Raymond James & Associates Reduces Stock Holdings in Artisan Partners Asset Management Inc (NYSE:APAM)

Raymond James & Associates trimmed its holdings in Artisan Partners Asset Management Inc (NYSE:APAM) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 601,214 shares of the asset manager’s stock after selling 20,441 shares during the period. Raymond James & Associates’ holdings in Artisan Partners Asset Management were worth $19,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Artisan Partners Asset Management by 18.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,288 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 1,138 shares in the last quarter. Creative Planning acquired a new stake in shares of Artisan Partners Asset Management during the second quarter valued at $622,000. New York State Teachers Retirement System increased its position in Artisan Partners Asset Management by 18.9% during the 2nd quarter. New York State Teachers Retirement System now owns 4,400 shares of the asset manager’s stock worth $143,000 after purchasing an additional 700 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Artisan Partners Asset Management during the second quarter worth about $3,090,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Artisan Partners Asset Management by 121.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 55,729 shares of the asset manager’s stock valued at $1,812,000 after acquiring an additional 30,564 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Shares of APAM stock opened at $36.23 on Friday. The firm has a fifty day moving average of $32.66 and a two-hundred day moving average of $29.38. The firm has a market cap of $2.85 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.14 and a beta of 2.03. Artisan Partners Asset Management Inc has a 1-year low of $17.69 and a 1-year high of $38.09. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.62 and a quick ratio of 0.62.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a return on equity of 178.20% and a net margin of 20.41%. The business had revenue of $203.00 million during the quarter, compared to the consensus estimate of $192.01 million. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Artisan Partners Asset Management Inc will post 2.99 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a dividend of $0.67 per share. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a dividend yield of 7.40%. The ex-dividend date of this dividend is Friday, August 14th. Artisan Partners Asset Management’s dividend payout ratio is currently 91.39%.

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Artisan Partners Asset Management from $41.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America increased their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods raised shares of Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $34.00 in a research report on Thursday, April 30th. Goldman Sachs Group upgraded Artisan Partners Asset Management from a “sell” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Friday. Finally, TheStreet raised shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $39.17.

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.

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Institutional Ownership by Quarter for Artisan Partners Asset Management (NYSE:APAM)

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