Envestnet Asset Management Inc. Acquires 1,652 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Envestnet Asset Management Inc. boosted its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,062 shares of the asset manager’s stock after acquiring an additional 1,652 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Artisan Partners Asset Management worth $2,526,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Artisan Partners Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 6,439,054 shares of the asset manager’s stock worth $173,404,000 after purchasing an additional 92,289 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Artisan Partners Asset Management by 1.1% during the first quarter. BlackRock Inc. now owns 5,092,524 shares of the asset manager’s stock valued at $200,390,000 after buying an additional 57,485 shares during the last quarter. Clarkston Capital Partners LLC lifted its position in Artisan Partners Asset Management by 7.8% during the third quarter. Clarkston Capital Partners LLC now owns 2,397,233 shares of the asset manager’s stock valued at $64,557,000 after purchasing an additional 174,115 shares during the period. Fisher Asset Management LLC lifted its position in Artisan Partners Asset Management by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,850,500 shares of the asset manager’s stock valued at $54,960,000 after purchasing an additional 25,877 shares during the period. Finally, Channing Capital Management LLC raised its position in Artisan Partners Asset Management by 3.2% in the third quarter. Channing Capital Management LLC now owns 1,488,689 shares of the asset manager’s stock worth $40,090,000 after acquiring an additional 45,983 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

APAM has been the topic of several recent analyst reports. StockNews.com began coverage on shares of Artisan Partners Asset Management in a research report on Thursday. They set a “hold” rating on the stock. Credit Suisse Group lifted their price objective on shares of Artisan Partners Asset Management from $29.50 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. The Goldman Sachs Group lowered shares of Artisan Partners Asset Management from a “neutral” rating to a “sell” rating and reduced their price target for the company from $33.00 to $27.00 in a report on Monday, March 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Artisan Partners Asset Management from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, February 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Artisan Partners Asset Management presently has a consensus rating of “Hold” and a consensus target price of $33.60.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock opened at $32.90 on Friday. Artisan Partners Asset Management Inc. has a 52-week low of $25.67 and a 52-week high of $40.68. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 11.96 and a beta of 1.82. The company has a fifty day simple moving average of $32.47 and a 200-day simple moving average of $33.11. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.71.

Artisan Partners Asset Management (NYSE:APAM – Get Rating) last announced its earnings results on Tuesday, May 2nd. The asset manager reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $234.50 million during the quarter, compared to analyst estimates of $233.58 million. Artisan Partners Asset Management had a net margin of 20.31% and a return on equity of 84.38%. Artisan Partners Asset Management’s revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Artisan Partners Asset Management Inc. will post 2.68 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 16th. This represents a $2.00 annualized dividend and a dividend yield of 6.08%. Artisan Partners Asset Management’s dividend payout ratio is presently 72.73%.

Artisan Partners Asset Management Profile

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Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.