Citigroup Inc. Acquires 31,803 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Citigroup Inc. raised its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 54.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,298 shares of the asset manager’s stock after buying an additional 31,803 shares during the period. Citigroup Inc. owned about 0.11% of Artisan Partners Asset Management worth $3,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Matrix Trust Co bought a new position in shares of Artisan Partners Asset Management in the third quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after buying an additional 348 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Artisan Partners Asset Management by 41.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after buying an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Artisan Partners Asset Management by 735.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after buying an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management in the second quarter valued at $63,000. 86.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APAM. The Goldman Sachs Group dropped their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI raised their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. TD Cowen raised their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Artisan Partners Asset Management presently has a consensus rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $48.91 on Wednesday. Artisan Partners Asset Management Inc. has a 52-week low of $37.58 and a 52-week high of $49.54. The company has a 50-day simple moving average of $45.36 and a 200 day simple moving average of $42.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $3.93 billion, a PE ratio of 13.62 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $279.60 million during the quarter, compared to the consensus estimate of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. On average, research analysts predict that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 6.71%. Artisan Partners Asset Management’s payout ratio is presently 91.37%.

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.