Navellier & Associates Inc. Purchases New Position in Artisan Partners Asset Management Inc. $APAM

Navellier & Associates Inc. purchased a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 85,669 shares of the asset manager’s stock, valued at approximately $3,490,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. QRG Capital Management Inc. increased its position in shares of Artisan Partners Asset Management by 9.0% during the fourth quarter. QRG Capital Management Inc. now owns 39,649 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 3,281 shares during the period. Truist Financial Corp purchased a new position in shares of Artisan Partners Asset Management during the fourth quarter valued at about $214,000. Oppenheimer & Co. Inc. purchased a new stake in Artisan Partners Asset Management in the fourth quarter worth about $217,000. Jennison Associates LLC grew its holdings in Artisan Partners Asset Management by 63.6% in the fourth quarter. Jennison Associates LLC now owns 48,780 shares of the asset manager’s stock worth $1,987,000 after purchasing an additional 18,959 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in Artisan Partners Asset Management by 10.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 52,237 shares of the asset manager’s stock worth $2,128,000 after purchasing an additional 4,906 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

Shares of APAM opened at $37.58 on Wednesday. The stock has a market cap of $3.03 billion, a PE ratio of 9.51 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.91 and a current ratio of 0.73. Artisan Partners Asset Management Inc. has a fifty-two week low of $34.99 and a fifty-two week high of $48.50. The firm’s 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $40.95.

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 analysts’ consensus estimates of $0.91 by ($0.04). Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The firm had revenue of $303.00 million for the quarter, compared to analysts’ expectations of $304.01 million. During the same quarter in the previous year, the company earned $0.83 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Artisan Partners Asset Management Inc. will post 3.93 earnings per share for the current fiscal year.

Artisan Partners Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.2%. Artisan Partners Asset Management’s dividend payout ratio is presently 102.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Artisan Partners Asset Management from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Zacks Research cut shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Evercore set a $37.00 price objective on shares of Artisan Partners Asset Management in a report on Friday, April 10th. Wall Street Zen cut shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings cut shares of Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Artisan Partners Asset Management currently has an average rating of “Reduce” and an average target price of $39.25.

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.