Creative Planning Cuts Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Creative Planning cut its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,682 shares of the asset manager’s stock after selling 461 shares during the quarter. Creative Planning’s holdings in Artisan Partners Asset Management were worth $333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new stake in shares of Artisan Partners Asset Management in the first quarter valued at approximately $734,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Artisan Partners Asset Management by 11.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 400,134 shares of the asset manager’s stock worth $18,314,000 after purchasing an additional 42,522 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock worth $59,197,000 after purchasing an additional 102,421 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Artisan Partners Asset Management during the first quarter worth approximately $9,907,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Artisan Partners Asset Management by 945.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 56,465 shares of the asset manager’s stock worth $2,330,000 after purchasing an additional 51,065 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Stock Performance

Shares of Artisan Partners Asset Management stock opened at $47.96 on Friday. Artisan Partners Asset Management Inc. has a 52 week low of $35.44 and a 52 week high of $49.30. The business’s fifty day simple moving average is $43.21 and its 200-day simple moving average is $42.43. The firm has a market cap of $3.85 billion, a PE ratio of 13.36 and a beta of 1.79. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.49.

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

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s payout ratio is 91.36%.

Analysts Set New Price Targets

Several analysts recently commented on APAM shares. The Goldman Sachs Group dropped their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Cowen boosted their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, Evercore ISI boosted their price objective on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday. 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 stock. According to MarketBeat, Artisan Partners Asset Management has an average rating of “Hold” and a consensus target price of $44.13.

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.