Fifth Third Bancorp Raises Stock Position in Artisan Partners Asset Management Inc. $APAM

Fifth Third Bancorp increased its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 9,498.3% in the first quarter, Holdings Channel reports. The firm owned 33,306 shares of the asset manager’s stock after acquiring an additional 32,959 shares during the period. Fifth Third Bancorp’s holdings in Artisan Partners Asset Management were worth $1,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of APAM. Eagle Bay Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management in the fourth quarter worth about $32,000. Triumph Capital Management lifted its position in Artisan Partners Asset Management by 112.5% during the 4th quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock worth $35,000 after acquiring an additional 450 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Artisan Partners Asset Management during the 4th quarter worth approximately $37,000. IFP Advisors Inc boosted its holdings in Artisan Partners Asset Management by 45.8% in the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after acquiring an additional 300 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Artisan Partners Asset Management in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on APAM shares. The Goldman Sachs Group reduced their target price on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. TD Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research report on Thursday, April 9th. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. Royal Bank Of Canada boosted their price target on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Wall Street Zen lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of “Reduce” and a consensus price target of $39.25.

Artisan Partners Asset Management Trading Up 2.0%

NYSE APAM opened at $39.30 on Friday. Artisan Partners Asset Management Inc. has a one year low of $33.96 and a one year high of $48.46. The company has a 50-day simple moving average of $36.66 and a 200-day simple moving average of $38.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $3.17 billion, a PE ratio of 9.95 and a beta of 1.68.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The business had revenue of $303.01 million for the quarter, compared to analyst estimates of $304.01 million. During the same quarter last year, the company earned $0.83 EPS. Artisan Partners Asset Management’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Artisan Partners Asset Management Inc. will post 3.89 earnings per share for the current year.

Artisan Partners Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.77 per share. The ex-dividend date was Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a yield of 7.8%. Artisan Partners Asset Management’s payout ratio is currently 77.97%.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.