PNC Financial Services Group Inc. Cuts Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

PNC Financial Services Group Inc. lowered its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,298 shares of the asset manager’s stock after selling 720 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Artisan Partners Asset Management were worth $190,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake in Artisan Partners Asset Management by 716.0% in the 4th quarter. Allworth Financial LP now owns 612 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 537 shares during the period. Quadrant Capital Group LLC grew its position in shares of Artisan Partners Asset Management by 70.3% in the fourth quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 265 shares during the period. Principal Securities Inc. acquired a new position in shares of Artisan Partners Asset Management during the 4th quarter worth about $31,000. Scarborough Advisors LLC purchased a new position in Artisan Partners Asset Management in the 4th quarter valued at about $34,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Artisan Partners Asset Management in the 4th quarter worth about $37,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Performance

NYSE:APAM opened at $40.20 on Wednesday. Artisan Partners Asset Management Inc. has a twelve month low of $32.12 and a twelve month high of $46.75. The company has a market cap of $3.23 billion, a P/E ratio of 12.26 and a beta of 1.81. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $42.72 and its 200-day moving average price is $43.15.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The company had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. Artisan Partners Asset Management had a net margin of 22.99% and a return on equity of 72.77%. Artisan Partners Asset Management’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. On average, sell-side analysts forecast that Artisan Partners Asset Management Inc. will post 3.41 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.61 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 6.07%. Artisan Partners Asset Management’s payout ratio is 74.39%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th.

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.