Envestnet Asset Management Inc. Increases Stake in Artisan Partners Asset Management Inc. $APAM

Envestnet Asset Management Inc. lifted its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 117,084 shares of the asset manager’s stock after purchasing an additional 3,840 shares during the period. Envestnet Asset Management Inc.’s holdings in Artisan Partners Asset Management were worth $5,190,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in Artisan Partners Asset Management by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 448,003 shares of the asset manager’s stock valued at $17,517,000 after buying an additional 6,393 shares during the period. CWM LLC lifted its stake in shares of Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 925 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Artisan Partners Asset Management by 3.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,228,743 shares of the asset manager’s stock valued at $48,044,000 after acquiring an additional 39,578 shares during the last quarter. Napatree Capital LLC boosted its holdings in Artisan Partners Asset Management by 1.8% during the 1st quarter. Napatree Capital LLC now owns 16,843 shares of the asset manager’s stock valued at $659,000 after acquiring an additional 301 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Artisan Partners Asset Management by 6.1% during the 1st quarter. Allianz Asset Management GmbH now owns 80,412 shares of the asset manager’s stock worth $3,144,000 after acquiring an additional 4,593 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Trading Down 2.0%

NYSE:APAM opened at $44.29 on Thursday. The company has a 50-day moving average price of $44.40 and a 200-day moving average price of $44.13. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 12.10 and a beta of 1.74. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Artisan Partners Asset Management Inc. has a 12 month low of $32.75 and a 12 month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 28th. The asset manager reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.05. Artisan Partners Asset Management had a net margin of 22.90% and a return on equity of 72.15%. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $300.90 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. Artisan Partners Asset Management’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.52 annualized dividend and a dividend yield of 7.9%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.73. Artisan Partners Asset Management’s dividend payout ratio is currently 79.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APAM. Weiss Ratings reiterated a “buy (b)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday. TD Cowen decreased their target price on shares of 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. Zacks Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Royal Bank Of Canada raised their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Evercore ISI upped their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

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.