Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Acquired by RDA Financial Network

RDA Financial Network grew its position in Artisan Partners Asset Management Inc. (NYSE:APAM) by 5.9% in the first quarter, HoldingsChannel reports. The fund owned 9,129 shares of the asset manager’s stock after acquiring an additional 510 shares during the quarter. RDA Financial Network’s holdings in Artisan Partners Asset Management were worth $357,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Artisan Partners Asset Management by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,838 shares of the asset manager’s stock worth $208,000 after acquiring an additional 226 shares during the period. Larson Financial Group LLC raised its position in shares of Artisan Partners Asset Management by 82.7% in the fourth quarter. Larson Financial Group LLC now owns 581 shares of the asset manager’s stock worth $25,000 after acquiring an additional 263 shares during the period. Stifel Financial Corp raised its position in shares of Artisan Partners Asset Management by 0.3% in the fourth quarter. Stifel Financial Corp now owns 120,023 shares of the asset manager’s stock worth $5,167,000 after acquiring an additional 319 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Artisan Partners Asset Management by 110.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager’s stock worth $27,000 after acquiring an additional 330 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Artisan Partners Asset Management by 208.6% in the fourth quarter. Bessemer Group Inc. now owns 574 shares of the asset manager’s stock worth $25,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APAM. Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. Royal Bank of Canada boosted their target price on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Evercore ISI cut their target price on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. TD Cowen cut their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Finally, TD Securities boosted their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.90.

Artisan Partners Asset Management Stock Up 1.0%

Shares of NYSE APAM opened at $40.69 on Monday. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54. The stock has a market cap of $3.27 billion, a PE ratio of 11.18 and a beta of 1.70. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $38.80 and a 200 day moving average of $41.94.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. The company had revenue of $277.10 million during the quarter, compared to analysts’ expectations of $281.15 million. During the same quarter in the prior year, the company earned $0.76 EPS. Artisan Partners Asset Management’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.68 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.72 annualized dividend and a dividend yield of 6.69%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 75.14%.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $44.24, for a total transaction of $300,876.24. Following the sale, the executive vice president now directly owns 40,529 shares in the company, valued at $1,793,002.96. This represents a 14.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total transaction of $624,871.60. Following the sale, the chief financial officer now owns 91,363 shares in the company, valued at approximately $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.53% of the company’s stock.

Artisan Partners Asset Management 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.