Belpointe Asset Management LLC Trims Stake in Artisan Partners Asset Management Inc. $APAM

Belpointe Asset Management LLC lowered its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,955 shares of the asset manager’s stock after selling 586 shares during the quarter. Belpointe Asset Management LLC’s holdings in Artisan Partners Asset Management were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Artisan Partners Asset Management by 24.1% during the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after buying an additional 249 shares during the period. Salvus Wealth Management LLC grew its holdings 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 period. Vident Advisory LLC grew its holdings 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 period. Napatree Capital LLC grew its holdings 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 period. Finally, Impact Capital Partners LLC grew its holdings in Artisan Partners Asset Management by 2.7% in the second quarter. Impact Capital Partners LLC now owns 11,471 shares of the asset manager’s stock worth $509,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APAM shares. TD Cowen cut their price objective on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a report on Monday, September 15th. Evercore ISI cut their price objective on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday. Royal Bank Of Canada upped their price objective on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Artisan Partners Asset Management in a report on Saturday, September 27th. Finally, Zacks Research cut shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Artisan Partners Asset Management Trading Down 2.9%

Shares of NYSE APAM opened at $42.34 on Friday. The firm’s 50 day moving average price is $45.57 and its 200-day moving average price is $42.87. The company has a market cap of $3.42 billion, a PE ratio of 11.26 and a beta of 1.72. 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 0.48, a quick ratio of 0.97 and a current ratio of 0.97.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $282.80 million for the quarter, compared to the consensus estimate of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities research analysts expect that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 6.9%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Artisan Partners Asset Management’s payout ratio is currently 77.66%.

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.