State of Alaska Department of Revenue Sells 997 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

State of Alaska Department of Revenue lessened its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,825 shares of the asset manager’s stock after selling 997 shares during the quarter. State of Alaska Department of Revenue’s holdings in Artisan Partners Asset Management were worth $1,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in 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 valued at $208,000 after acquiring an additional 226 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Artisan Partners Asset Management by 82.7% during the 4th quarter. Larson Financial Group LLC now owns 581 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 263 shares in the last quarter. Stifel Financial Corp increased its position in shares of Artisan Partners Asset Management by 0.3% during the fourth quarter. Stifel Financial Corp now owns 120,023 shares of the asset manager’s stock valued at $5,167,000 after buying an additional 319 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Artisan Partners Asset Management by 110.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager’s stock valued at $27,000 after buying an additional 330 shares during the period. Finally, Bessemer Group Inc. raised its stake in 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 buying an additional 388 shares in the last quarter. Institutional investors own 86.45% of the company’s stock.

Insider Transactions at Artisan Partners Asset Management

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

Analyst Upgrades and Downgrades

APAM has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Securities boosted their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada upped 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 report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.90.

Artisan Partners Asset Management Stock Up 1.9%

APAM stock opened at $43.63 on Wednesday. The business has a 50 day moving average of $40.36 and a 200 day moving average of $41.48. The firm has a market cap of $3.52 billion, a PE ratio of 12.05 and a beta of 1.70. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.68 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.72 annualized dividend and a yield of 6.23%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 75.14%.

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.