ClearAlpha Technologies LP Purchases New Shares in Artisan Partners Asset Management Inc. (NYSE:APAM)

ClearAlpha Technologies LP purchased a new position in Artisan Partners Asset Management Inc. (NYSE:APAM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,793 shares of the asset manager’s stock, valued at approximately $251,000.

Other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its position in shares of Artisan Partners Asset Management by 0.9% in the 3rd quarter. Aviance Capital Partners LLC now owns 31,415 shares of the asset manager’s stock worth $1,361,000 after buying an additional 286 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Artisan Partners Asset Management by 41.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of Artisan Partners Asset Management by 3.7% during the second quarter. Caprock Group LLC now owns 8,255 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 297 shares during the last quarter. Morse Asset Management Inc boosted its position in shares of Artisan Partners Asset Management by 3.0% in the 2nd quarter. Morse Asset Management Inc now owns 10,435 shares of the asset manager’s stock worth $431,000 after purchasing an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Artisan Partners Asset Management by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after buying an additional 348 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Analyst Upgrades and Downgrades

APAM has been the subject of a number of recent research reports. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI upped 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 note on Thursday, November 7th. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen upped their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM opened at $49.10 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 13.68 and a beta of 1.79. The business has a 50-day simple moving average of $45.24 and a two-hundred day simple moving average of $42.90. Artisan Partners Asset Management Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $49.52.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the previous year, the company earned $0.75 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts expect that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 6.68%. The ex-dividend date was Friday, November 15th. Artisan Partners Asset Management’s payout ratio is currently 91.37%.

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.