US Bancorp DE Trims Stock Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

US Bancorp DE lowered its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 35.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,363 shares of the asset manager’s stock after selling 1,324 shares during the quarter. US Bancorp DE’s holdings in Artisan Partners Asset Management were worth $102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at $10,685,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Artisan Partners Asset Management by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after purchasing an additional 160,297 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Artisan Partners Asset Management during the 2nd quarter worth $4,531,000. Vaughan Nelson Investment Management L.P. raised its position in Artisan Partners Asset Management by 7.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock valued at $59,197,000 after purchasing an additional 102,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Artisan Partners Asset Management by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock worth $66,757,000 after buying an additional 74,393 shares during the period. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Down 0.6 %

NYSE:APAM opened at $46.67 on Friday. The company’s 50-day simple moving average is $43.93 and its 200-day simple moving average is $42.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. Artisan Partners Asset Management Inc. has a fifty-two week low of $36.45 and a fifty-two week high of $49.52. The stock has a market capitalization of $3.75 billion, a P/E ratio of 13.00 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company 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%. Artisan Partners Asset Management’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm 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. The ex-dividend date is Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 7.03%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 91.36%.

Analysts Set New Price Targets

Several equities analysts have recently commented on APAM shares. Evercore ISI raised their price target on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. TD Cowen upped their price target on shares of 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. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average price target of $44.13.

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.