Ensign Peak Advisors Inc Cuts Stake in Artisan Partners Asset Management Inc. $APAM

Ensign Peak Advisors Inc lessened its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,822 shares of the asset manager’s stock after selling 1,550 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Artisan Partners Asset Management were worth $879,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of Artisan Partners Asset Management during the 1st quarter valued at about $33,000. Farther Finance Advisors LLC grew its position in Artisan Partners Asset Management by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 249 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at approximately $57,000. Legend Financial Advisors Inc. purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at approximately $75,000. Finally, Allworth Financial LP lifted its position in shares of Artisan Partners Asset Management by 3,323.3% during the second quarter. Allworth Financial LP now owns 2,499 shares of the asset manager’s stock worth $111,000 after purchasing an additional 2,426 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

Shares of APAM stock opened at $41.48 on Friday. The firm has a fifty day moving average of $43.32 and a two-hundred day moving average of $44.28. The firm has a market cap of $3.35 billion, a P/E ratio of 11.33 and a beta of 1.74. Artisan Partners Asset Management Inc. has a 1-year low of $32.75 and a 1-year high of $49.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.02.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 28th. The asset manager reported $1.02 EPS for the quarter, topping the consensus estimate of $0.97 by $0.05. The business had revenue of $301.29 million for the quarter, compared to analysts’ expectations of $300.90 million. Artisan Partners Asset Management had a net margin of 22.90% and a return on equity of 72.15%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. As a group, research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.52 dividend on an annualized basis and a yield of 8.5%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.73. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 96.17%.

Analyst Ratings Changes

A number of research firms recently weighed in on APAM. TD Cowen lowered their price target on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating for the company in a report on Monday, September 15th. Evercore ISI raised their target price on Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Zacks Research raised Artisan Partners Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Artisan Partners Asset Management in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.