Maryland State Retirement & Pension System Boosts Stock Holdings in Artisan Partners Asset Management Inc. $APAM

Maryland State Retirement & Pension System grew its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,698 shares of the asset manager’s stock after acquiring an additional 251 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Artisan Partners Asset Management were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Artisan Partners Asset Management during the 1st quarter worth $33,000. Farther Finance Advisors LLC raised its stake in shares of Artisan Partners Asset Management by 24.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after purchasing an additional 249 shares during the period. Continuum Advisory LLC bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth $63,000. Legend Financial Advisors Inc. bought a new stake in shares of Artisan Partners Asset Management during the 2nd quarter worth $75,000. Finally, CWM LLC raised its stake in shares of Artisan Partners Asset Management by 77.0% during the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock worth $83,000 after purchasing an additional 925 shares during the period. 86.45% of the stock is owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Trading Down 2.9%

Shares of Artisan Partners Asset Management stock opened at $42.34 on Monday. Artisan Partners Asset Management Inc. has a 52-week low of $32.75 and a 52-week high of $49.54. The stock’s 50-day simple moving average is $45.57 and its 200 day simple moving average is $42.89. The stock has a market capitalization of $3.42 billion, a P/E ratio of 11.26 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.The business had revenue of $282.80 million for the quarter, compared to analysts’ expectations of $269.00 million. During the same period in the previous year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. Artisan Partners Asset Management’s payout ratio is presently 77.66%.

Analysts Set New Price Targets

APAM has been the topic of a number of recent analyst reports. TD Cowen lowered their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research note on Monday, September 15th. Royal Bank Of Canada lifted their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Zacks Research cut Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Evercore ISI lowered their target price on Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Artisan Partners Asset Management in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

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.