Legend Financial Advisors Inc. Takes Position in Artisan Partners Asset Management Inc. $APAM

Legend Financial Advisors Inc. purchased a new stake in Artisan Partners Asset Management Inc. (NYSE:APAM) in the second quarter, Holdings Channel.com reports. The firm purchased 1,700 shares of the asset manager’s stock, valued at approximately $75,000.

A number of other hedge funds have also recently added to or reduced their stakes in APAM. SVB Wealth LLC bought a new position in shares of Artisan Partners Asset Management in the first quarter worth about $33,000. Farther Finance Advisors LLC raised its position in Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after purchasing an additional 249 shares during the last quarter. Continuum Advisory LLC acquired a new position in Artisan Partners Asset Management during the 1st quarter worth $63,000. CWM LLC boosted its position 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 valued at $83,000 after buying an additional 925 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in shares of 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 valued at $92,000 after buying an additional 2,374 shares during the period. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

NYSE APAM opened at $43.79 on Friday. The firm’s 50 day moving average is $46.13 and its 200-day moving average is $42.61. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.53 billion, a PE ratio of 11.65 and a beta of 1.71. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $282.80 million for the quarter, compared to analysts’ expectations of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.73 dividend. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Friday, August 15th. Artisan Partners Asset Management’s dividend payout ratio is 77.66%.

Analysts Set New Price Targets

APAM has been the topic of a number of research reports. Zacks Research downgraded shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. TD Cowen lowered their target price on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating for the company in a report on Monday, September 15th. Evercore ISI increased their price target on Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Friday, September 5th. Finally, 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 research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and a consensus target price of $43.50.

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.