State of Alaska Department of Revenue Buys 3,085 Shares of Artisan Partners Asset Management Inc. $APAM

State of Alaska Department of Revenue grew its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,910 shares of the asset manager’s stock after buying an additional 3,085 shares during the period. State of Alaska Department of Revenue owned 0.05% of Artisan Partners Asset Management worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Artisan Partners Asset Management by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after purchasing an additional 249 shares during the last quarter. Salvus Wealth Management LLC increased its position in Artisan Partners Asset Management by 5.0% in the second quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager’s stock worth $246,000 after purchasing an additional 263 shares during the last quarter. Vident Advisory LLC increased its position in Artisan Partners Asset Management by 1.8% in the first quarter. Vident Advisory LLC now owns 15,577 shares of the asset manager’s stock worth $609,000 after purchasing an additional 278 shares during the last quarter. Napatree Capital LLC increased its position in Artisan Partners Asset Management by 1.8% in the first quarter. Napatree Capital LLC now owns 16,843 shares of the asset manager’s stock worth $659,000 after purchasing an additional 301 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its position in Artisan Partners Asset Management by 7.7% in the first quarter. Belpointe Asset Management LLC now owns 6,541 shares of the asset manager’s stock worth $256,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

APAM has been the topic of several research reports. Royal Bank Of Canada boosted their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Evercore ISI boosted their price target on shares of Artisan Partners Asset Management from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Friday, September 5th. TD Cowen reduced their price target on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, September 15th. Finally, Zacks Research cut shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

Artisan Partners Asset Management Trading Up 1.3%

APAM stock opened at $42.97 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 11.43 and a beta of 1.72. The firm’s fifty day simple moving average is $45.83 and its two-hundred day simple moving average is $42.74.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.73 per share. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, August 15th. Artisan Partners Asset Management’s payout ratio is presently 77.66%.

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.