Federated Hermes Inc. Lowers Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Federated Hermes Inc. lessened its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 36.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 429,688 shares of the asset manager’s stock after selling 249,569 shares during the quarter. Federated Hermes Inc.’s holdings in Artisan Partners Asset Management were worth $16,801,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Artisan Partners Asset Management by 208.6% in the 4th quarter. Bessemer Group Inc. now owns 574 shares of the asset manager’s stock worth $25,000 after purchasing an additional 388 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Artisan Partners Asset Management in the 1st quarter worth about $63,000. CWM LLC increased its holdings in Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock worth $83,000 after buying an additional 925 shares in the last quarter. NBC Securities Inc. increased its holdings in Artisan Partners Asset Management by 118,700.0% in the 1st quarter. NBC Securities Inc. now owns 2,376 shares of the asset manager’s stock worth $92,000 after buying an additional 2,374 shares in the last quarter. Finally, KBC Group NV increased its holdings in Artisan Partners Asset Management by 36.2% in the 1st quarter. KBC Group NV now owns 3,996 shares of the asset manager’s stock worth $156,000 after buying an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Insider Transactions at Artisan Partners Asset Management

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of Artisan Partners Asset Management stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total transaction of $624,871.60. Following the transaction, the chief financial officer directly owned 91,363 shares of the company’s stock, valued at $3,695,633.35. The trade was a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samuel Bentson Sellers sold 6,801 shares of Artisan Partners Asset Management stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $44.24, for a total value of $300,876.24. Following the transaction, the executive vice president directly owned 40,529 shares in the company, valued at approximately $1,793,002.96. The trade was a 14.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is owned by insiders.

Artisan Partners Asset Management Trading Down 1.0%

Artisan Partners Asset Management stock opened at $44.79 on Friday. The business has a 50-day simple moving average of $44.04 and a two-hundred day simple moving average of $41.88. The company has a market cap of $3.61 billion, a P/E ratio of 11.91 and a beta of 1.69. 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 quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly 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 business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. Artisan Partners Asset Management’s payout ratio is presently 75.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APAM shares. Royal Bank Of Canada lifted their price objective on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday. Wall Street Zen upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. TD Securities lifted their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Finally, Evercore ISI reduced their price objective on Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.30.

Artisan Partners Asset Management Company 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.