Bank of New York Mellon Corp Raises Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Bank of New York Mellon Corp raised its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 448,003 shares of the asset manager’s stock after buying an additional 6,393 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Artisan Partners Asset Management worth $17,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. OneDigital Investment Advisors LLC boosted its stake in Artisan Partners Asset Management by 9.0% in the first quarter. OneDigital Investment Advisors LLC now owns 12,738 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 1,047 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Artisan Partners Asset Management by 2.3% in the first quarter. Principal Financial Group Inc. now owns 349,308 shares of the asset manager’s stock valued at $13,658,000 after buying an additional 7,972 shares in the last quarter. KBC Group NV increased its holdings in Artisan Partners Asset Management by 36.2% in the first quarter. KBC Group NV now owns 3,996 shares of the asset manager’s stock valued at $156,000 after buying an additional 1,062 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Artisan Partners Asset Management by 20.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,457 shares of the asset manager’s stock valued at $565,000 after buying an additional 2,481 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Artisan Partners Asset Management by 12.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager’s stock worth $2,234,000 after purchasing an additional 6,508 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $46.37 on Friday. The company’s fifty day moving average is $43.40 and its two-hundred day moving average is $41.60. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 12.81 and a beta of 1.70. Artisan Partners Asset Management Inc. has a 52-week low of $32.75 and a 52-week high of $49.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.87 and a quick ratio of 0.87.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results 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 23.24% and a return on equity of 73.48%. The firm had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.87%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is 75.14%.

Insider Buying and Selling

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the sale, the chief financial officer owned 91,363 shares of the company’s stock, valued at $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the sale, the executive vice president directly owned 40,529 shares in the company, valued at $1,793,002.96. This trade represents a 14.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on APAM shares. TD Cowen reduced their target price on shares of 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. Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Evercore ISI decreased their price target on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Wall Street Zen raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada boosted their target price on shares of Artisan Partners Asset Management from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. One research 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $39.10.

About Artisan Partners Asset Management

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.