Advisory Services Network LLC Makes New Investment in Artisan Partners Asset Management Inc. (NYSE:APAM)

Advisory Services Network LLC purchased a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,520 shares of the asset manager’s stock, valued at approximately $410,000.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in Artisan Partners Asset Management by 82.7% in the 4th quarter. Larson Financial Group LLC now owns 581 shares of the asset manager’s stock valued at $25,000 after buying an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Artisan Partners Asset Management by 110.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager’s stock worth $27,000 after acquiring an additional 330 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Artisan Partners Asset Management by 166.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 642 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Artisan Partners Asset Management during the fourth quarter valued at $57,000. Finally, R Squared Ltd acquired a new position in shares of Artisan Partners Asset Management during the fourth quarter worth $62,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APAM has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on Artisan Partners Asset Management from $40.00 to $33.00 and set an “in-line” rating for the company in a report on Friday, April 11th. TD Cowen lowered their price objective on Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada cut their price objective on Artisan Partners Asset Management from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.63.

Artisan Partners Asset Management Stock Down 1.5 %

Shares of NYSE:APAM opened at $34.96 on Thursday. Artisan Partners Asset Management Inc. has a 1 year low of $32.75 and a 1 year high of $49.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. The business’s 50-day moving average is $40.19 and its 200-day moving average is $43.31. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 9.60 and a beta of 1.80.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.08. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. Equities research analysts predict that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Friday, February 14th. Artisan Partners Asset Management’s dividend payout ratio is presently 92.31%.

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.