FORA Capital LLC Purchases New Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

FORA Capital LLC purchased a new stake in Artisan Partners Asset Management Inc. (NYSE:APAM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,680 shares of the asset manager’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of APAM. Millennium Management LLC purchased a new position in Artisan Partners Asset Management in the second quarter valued at approximately $10,685,000. Victory Capital Management Inc. raised its holdings in Artisan Partners Asset Management by 22.0% in the third quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager’s stock valued at $48,609,000 after buying an additional 202,074 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 valued at $273,494,000 after buying an additional 160,297 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Artisan Partners Asset Management by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,643,915 shares of the asset manager’s stock valued at $114,534,000 after buying an additional 154,536 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at approximately $4,531,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Up 0.3 %

Shares of NYSE:APAM opened at $48.79 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $45.12 and a 200 day simple moving average of $42.92. The firm has a market cap of $3.92 billion, a PE ratio of 13.59 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 12-month low of $37.16 and a 12-month high of $49.52.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.82 dividend. The ex-dividend date was Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.72%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 91.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI lifted their price objective 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. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen lifted their price objective on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note 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, the company has a consensus rating of “Hold” and an average target price of $44.13.

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.