Drake & Associates LLC Trims Stock Position in Artisan Partners Asset Management Inc. $APAM

Drake & Associates LLC trimmed its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 30.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 41,691 shares of the asset manager’s stock after selling 18,555 shares during the period. Drake & Associates LLC owned approximately 0.05% of Artisan Partners Asset Management worth $1,699,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. WealthCollab LLC raised its position in Artisan Partners Asset Management by 17.0% in the second quarter. WealthCollab LLC now owns 1,700 shares of the asset manager’s stock valued at $75,000 after purchasing an additional 247 shares during the period. WINTON GROUP Ltd grew its holdings in shares of Artisan Partners Asset Management by 0.9% during the 4th quarter. WINTON GROUP Ltd now owns 29,793 shares of the asset manager’s stock worth $1,214,000 after purchasing an additional 269 shares during the period. Provident Investment Management Inc. grew its holdings in shares of Artisan Partners Asset Management by 1.2% during the 3rd quarter. Provident Investment Management Inc. now owns 22,295 shares of the asset manager’s stock worth $968,000 after purchasing an additional 275 shares during the period. IFP Advisors Inc increased its position in shares of Artisan Partners Asset Management by 45.8% during the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Artisan Partners Asset Management by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 64,112 shares of the asset manager’s stock worth $2,842,000 after purchasing an additional 317 shares during the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Stock Down 0.7%

Shares of Artisan Partners Asset Management stock opened at $35.90 on Friday. Artisan Partners Asset Management Inc. has a 52-week low of $34.37 and a 52-week high of $48.50. The company has a 50 day moving average of $37.05 and a 200 day moving average of $39.53. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.89 billion, a P/E ratio of 9.09 and a beta of 1.67.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The firm had revenue of $303.01 million for the quarter, compared to analyst estimates of $304.01 million. During the same quarter last year, the firm earned $0.83 EPS. The company’s revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Artisan Partners Asset Management Inc. will post 3.93 EPS for the current fiscal year.

Artisan Partners Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.6%. Artisan Partners Asset Management’s payout ratio is presently 77.97%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore set a $39.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, June 8th. Zacks Research raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Weiss Ratings cut shares of Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. The Goldman Sachs Group reduced their price target on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.75.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.