Victory Capital Management Inc. Acquires 202,074 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Victory Capital Management Inc. raised its position in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 22.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,122,086 shares of the asset manager's stock after acquiring an additional 202,074 shares during the period. Victory Capital Management Inc. owned about 1.40% of Artisan Partners Asset Management worth $48,609,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Millennium Management LLC acquired a new position in Artisan Partners Asset Management in the second quarter worth about $10,685,000. Jupiter Asset Management Ltd. bought a new position in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $9,907,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Artisan Partners Asset Management by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager's stock valued at $273,494,000 after buying an additional 160,297 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Artisan Partners Asset Management in the first quarter valued at $7,287,000. Finally, Assenagon Asset Management S.A. acquired a new position in Artisan Partners Asset Management during the second quarter worth $4,531,000. Institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Down 0.6 %

Shares of APAM stock traded down $0.30 during trading hours on Friday, hitting $46.67. 387,265 shares of the company were exchanged, compared to its average volume of 448,638. The company has a market capitalization of $3.75 billion, a PE ratio of 13.00 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 52 week low of $36.45 and a 52 week high of $49.52. The business has a 50 day moving average of $43.93 and a two-hundred day moving average of $42.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $279.70 million. During the same period last year, the company earned $0.75 earnings per share. Artisan Partners Asset Management's quarterly revenue was up 12.4% on a year-over-year basis. Analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management's dividend payout ratio is currently 91.36%.

Analysts Set New Price Targets

APAM has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating on the stock in a report on Thursday, October 3rd. StockNews.com raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen upped their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Finally, Evercore ISI raised their price objective on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $44.13.

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.