Quarry LP Sells 850 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Quarry LP lowered its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 55.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684 shares of the asset manager’s stock after selling 850 shares during the period. Quarry LP’s holdings in Artisan Partners Asset Management were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of APAM. Vaughan Nelson Investment Management L.P. boosted its position in shares of Artisan Partners Asset Management by 7.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock valued at $59,197,000 after acquiring an additional 102,421 shares during the last quarter. Quest Partners LLC lifted its position in Artisan Partners Asset Management by 210.0% during the third quarter. Quest Partners LLC now owns 59,735 shares of the asset manager’s stock valued at $2,588,000 after purchasing an additional 40,468 shares during the last quarter. Raymond James & Associates grew its stake in shares of Artisan Partners Asset Management by 8.0% in the 3rd quarter. Raymond James & Associates now owns 453,638 shares of the asset manager’s stock worth $19,652,000 after buying an additional 33,618 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Artisan Partners Asset Management by 945.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 56,465 shares of the asset manager’s stock worth $2,330,000 after buying an additional 51,065 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Artisan Partners Asset Management by 11.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 455,968 shares of the asset manager’s stock valued at $19,753,000 after buying an additional 45,627 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

Shares of APAM opened at $47.77 on Friday. The stock has a 50-day moving average of $46.25 and a two-hundred day moving average of $43.14. The stock has a market cap of $3.84 billion, a P/E ratio of 13.31 and a beta of 1.79. Artisan Partners Asset Management Inc. has a one year low of $37.89 and a one year high of $49.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The business had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. During the same quarter last year, the company earned $0.75 EPS. The business’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 6.87%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 91.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APAM shares. Evercore ISI raised their price objective on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group cut their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, TD Cowen raised their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Artisan Partners Asset Management presently has a consensus rating of “Hold” and an average price target of $44.13.

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.