State of New Jersey Common Pension Fund D Makes New $2.25 Million Investment in Artisan Partners Asset Management Inc (NYSE:APAM)

State of New Jersey Common Pension Fund D purchased a new position in shares of Artisan Partners Asset Management Inc (NYSE:APAM) in the third quarter, according to its most recent filing with the SEC. The firm purchased 79,500 shares of the asset manager’s stock, valued at approximately $2,245,000. State of New Jersey Common Pension Fund D owned 0.10% of Artisan Partners Asset Management at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $25,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $39,000. Anderson Fisher LLC acquired a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $41,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Artisan Partners Asset Management by 89.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,509 shares of the asset manager’s stock valued at $42,000 after buying an additional 711 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Artisan Partners Asset Management by 148,633.3% in the 2nd quarter. Bank of Montreal Can now owns 4,462 shares of the asset manager’s stock valued at $123,000 after buying an additional 4,459 shares during the period. Hedge funds and other institutional investors own 63.12% of the company’s stock.

Several analysts have recently commented on the company. Citigroup upgraded Artisan Partners Asset Management from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $33.00 in a research note on Wednesday. Zacks Investment Research upgraded Artisan Partners Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, ValuEngine downgraded Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.00.

APAM stock opened at $29.48 on Friday. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 1.02 and a beta of 1.86. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.56 and a current ratio of 0.56. Artisan Partners Asset Management Inc has a 52-week low of $20.16 and a 52-week high of $30.18. The business has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $27.24.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $202.90 million during the quarter, compared to the consensus estimate of $202.46 million. Artisan Partners Asset Management had a return on equity of 169.99% and a net margin of 18.48%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, sell-side analysts forecast that Artisan Partners Asset Management Inc will post 2.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.60 dividend on an annualized basis and a yield of 8.82%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.60. Artisan Partners Asset Management’s payout ratio is 81.63%.

About Artisan Partners Asset Management

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.

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Institutional Ownership by Quarter for Artisan Partners Asset Management (NYSE:APAM)

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