Quest Partners LLC Buys 40,468 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Quest Partners LLC boosted its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 210.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,735 shares of the asset manager’s stock after acquiring an additional 40,468 shares during the quarter. Quest Partners LLC’s holdings in Artisan Partners Asset Management were worth $2,588,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APAM. Millennium Management LLC bought a new stake in Artisan Partners Asset Management in the 2nd quarter valued at $10,685,000. Victory Capital Management Inc. lifted its position in Artisan Partners Asset Management by 22.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager’s stock valued at $48,609,000 after acquiring an additional 202,074 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Artisan Partners Asset Management by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock valued at $273,494,000 after acquiring an additional 160,297 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Artisan Partners Asset Management in the 2nd quarter valued at $4,531,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Artisan Partners Asset Management by 7.7% in 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 acquiring an additional 102,421 shares in the last quarter. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Stock Down 2.4 %

Shares of APAM opened at $46.67 on Monday. Artisan Partners Asset Management Inc. has a 52 week low of $36.45 and a 52 week high of $49.52. The firm has a market cap of $3.75 billion, a P/E ratio of 13.00 and a beta of 1.79. The firm’s 50-day simple moving average is $43.93 and its 200 day simple moving average is $42.64. 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 (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. 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 business earned $0.75 EPS. Artisan Partners Asset Management’s quarterly revenue was up 12.4% on a year-over-year basis. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a yield of 7.03%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 79.11%.

Analyst Ratings Changes

Several research firms recently commented on APAM. 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. The Goldman Sachs Group cut 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 boosted their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. Finally, TD Cowen boosted 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.