Renaissance Technologies LLC Buys Shares of 9,400 Artisan Partners Asset Management Inc. (NYSE:APAM)

Renaissance Technologies LLC purchased a new position in Artisan Partners Asset Management Inc. (NYSE:APAM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,400 shares of the asset manager’s stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in APAM. Caprock Group LLC raised its holdings in Artisan Partners Asset Management by 3.7% in the second quarter. Caprock Group LLC now owns 8,255 shares of the asset manager’s stock worth $341,000 after buying an additional 297 shares during the last quarter. Sound Income Strategies LLC lifted its position in Artisan Partners Asset Management by 19.0% in the 1st quarter. Sound Income Strategies LLC now owns 2,064 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 329 shares in the last quarter. GAMMA Investing LLC boosted its stake in Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Arden Trust Co increased its holdings in shares of Artisan Partners Asset Management by 1.5% in the 2nd quarter. Arden Trust Co now owns 26,391 shares of the asset manager’s stock worth $1,089,000 after purchasing an additional 382 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Artisan Partners Asset Management by 65.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,080 shares of the asset manager’s stock worth $49,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $42.40 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71. Artisan Partners Asset Management Inc. has a 1-year low of $32.12 and a 1-year high of $46.75. The business has a 50 day simple moving average of $41.19 and a two-hundred day simple moving average of $42.31. The stock has a market capitalization of $3.41 billion, a PE ratio of 12.93 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. On average, research analysts predict that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 6.70%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, August 16th. Artisan Partners Asset Management’s dividend payout ratio is presently 86.59%.

Wall Street Analysts Forecast Growth

APAM has been the topic of several recent analyst reports. StockNews.com cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. TD Cowen raised their target price on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.83.

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.