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AQR Capital Management LLC increased its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 20.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,696 shares of the asset manager’s stock after buying an additional 16,178 shares during the period. AQR Capital Management LLC’s holdings in Artisan Partners Asset Management were worth $3,653,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new position in Artisan Partners Asset Management during the 3rd quarter valued at about $27,000. USA Financial Portformulas Corp purchased a new position in Artisan Partners Asset Management during the third quarter worth about $38,000. Steward Partners Investment Advisory LLC boosted its position in shares of Artisan Partners Asset Management by 162.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,074 shares of the asset manager’s stock worth $42,000 after acquiring an additional 664 shares during the last quarter. US Bancorp DE grew its stake in shares of Artisan Partners Asset Management by 128.7% during the 2nd quarter. US Bancorp DE now owns 1,576 shares of the asset manager’s stock valued at $51,000 after buying an additional 887 shares during the period. Finally, Nachman Norwood & Parrott Inc purchased a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at $78,000. Institutional investors own 62.11% of the company’s stock.
In other news, EVP Jason A. Gottlieb sold 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $41.55, for a total transaction of $415,500.00. Following the sale, the executive vice president now directly owns 81,828 shares in the company, valued at approximately $3,399,953.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.44% of the company’s stock.
Shares of NYSE APAM opened at $50.07 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.62 and a current ratio of 0.62. Artisan Partners Asset Management Inc. has a 1 year low of $17.69 and a 1 year high of $50.87. The stock’s 50-day simple moving average is $45.57 and its 200-day simple moving average is $38.92. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.79 and a beta of 1.90.
Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, October 27th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $232.70 million for the quarter, compared to analyst estimates of $231.55 million. Artisan Partners Asset Management had a net margin of 21.73% and a return on equity of 179.65%. As a group, research analysts predict that Artisan Partners Asset Management Inc. will post 3.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 30th. Stockholders of record on Monday, November 16th were issued a $0.83 dividend. The ex-dividend date was Friday, November 13th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.67. This represents a $3.32 annualized dividend and a dividend yield of 6.63%. Artisan Partners Asset Management’s payout ratio is 124.34%.
APAM has been the subject of a number of research reports. Keefe, Bruyette & Woods downgraded Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $45.00 to $48.00 in a research report on Monday, October 19th. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, October 9th. Finally, ValuEngine lowered Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $43.67.
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.
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