Moran Wealth Management LLC Buys 1,242 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Moran Wealth Management LLC boosted its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,261 shares of the asset manager’s stock after buying an additional 1,242 shares during the period. Moran Wealth Management LLC’s holdings in Artisan Partners Asset Management were worth $2,567,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Matrix Trust Co bought a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after buying an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Artisan Partners Asset Management by 735.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 1,067 shares during the period. Finally, Quarry LP bought a new stake in shares of Artisan Partners Asset Management during the second quarter valued at about $63,000. Institutional investors own 86.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APAM. 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 lifted their price objective 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 lowered their price target on shares of 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, Evercore ISI lifted their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Up 1.8 %

Shares of APAM stock opened at $47.73 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. Artisan Partners Asset Management Inc. has a one year low of $36.45 and a one year high of $49.52. The company’s fifty day moving average price is $44.34 and its 200-day moving average price is $42.73. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 13.29 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $279.60 million for 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 6.87%. Artisan Partners Asset Management’s payout ratio is presently 91.37%.

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.