JPMorgan Chase & Co. Lowers Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

JPMorgan Chase & Co. cut its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 8.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 101,422 shares of the asset manager’s stock after selling 9,398 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Artisan Partners Asset Management worth $4,394,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in APAM. Matrix Trust Co acquired a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its holdings 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 purchasing an additional 296 shares during the last quarter. GAMMA Investing LLC lifted its position in Artisan Partners Asset Management by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,128 shares of the asset manager’s stock worth $49,000 after buying an additional 353 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after buying an additional 1,067 shares during the last quarter. Finally, Quarry LP purchased a new stake in Artisan Partners Asset Management in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen increased their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, Evercore ISI increased their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management has a consensus rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Up 0.9 %

Shares of NYSE:APAM opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $3.45 billion, a P/E ratio of 11.94 and a beta of 1.80. Artisan Partners Asset Management Inc. has a 1-year low of $37.89 and a 1-year high of $49.54. The firm has a fifty day moving average price of $45.50 and a 200 day moving average price of $43.37.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. Artisan Partners Asset Management’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.18 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm 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. This represents a $3.28 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date of this dividend was Friday, November 15th. Artisan Partners Asset Management’s payout ratio is currently 91.37%.

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.