TimesSquare Capital Management LLC Sells 310,000 Shares of Artisan Partners Asset Management Inc. (APAM)

TimesSquare Capital Management LLC trimmed its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 21.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,150,000 shares of the asset manager’s stock after selling 310,000 shares during the period. TimesSquare Capital Management LLC owned about 1.52% of Artisan Partners Asset Management worth $37,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APAM. Alliancebernstein L.P. increased its stake in shares of Artisan Partners Asset Management by 0.3% during the first quarter. Alliancebernstein L.P. now owns 19,918 shares of the asset manager’s stock worth $550,000 after buying an additional 50 shares during the period. Teachers Advisors LLC increased its stake in shares of Artisan Partners Asset Management by 4.2% during the first quarter. Teachers Advisors LLC now owns 42,937 shares of the asset manager’s stock worth $1,185,000 after buying an additional 1,725 shares during the period. California Public Employees Retirement System increased its stake in shares of Artisan Partners Asset Management by 0.8% during the first quarter. California Public Employees Retirement System now owns 40,000 shares of the asset manager’s stock worth $1,104,000 after buying an additional 300 shares during the period. Legal & General Group Plc increased its stake in shares of Artisan Partners Asset Management by 221.4% during the first quarter. Legal & General Group Plc now owns 15,695 shares of the asset manager’s stock worth $434,000 after buying an additional 10,811 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Artisan Partners Asset Management by 21.7% during the first quarter. Vanguard Group Inc. now owns 3,767,507 shares of the asset manager’s stock worth $103,983,000 after buying an additional 671,858 shares during the period. Hedge funds and other institutional investors own 63.94% of the company’s stock.

A number of research firms recently weighed in on APAM. Zacks Investment Research upgraded shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Royal Bank Of Canada set a $36.00 target price on shares of Artisan Partners Asset Management and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC restated a “hold” rating and set a $32.00 target price on shares of Artisan Partners Asset Management in a research note on Tuesday, September 26th. Sidoti upgraded shares of Artisan Partners Asset Management from a “neutral” rating to a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average target price of $31.93.

Artisan Partners Asset Management Inc. (NYSE:APAM) opened at $38.05 on Friday. The company has a market cap of $2,875.36, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.77. Artisan Partners Asset Management Inc. has a one year low of $26.30 and a one year high of $38.80. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.27.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $204.60 million for the quarter, compared to analyst estimates of $204.53 million. Artisan Partners Asset Management had a net margin of 12.58% and a return on equity of 95.09%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 2.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $2.40 annualized dividend and a yield of 6.31%. Artisan Partners Asset Management’s dividend payout ratio is currently 129.73%.

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About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

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

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