Isthmus Partners LLC Reduces Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Isthmus Partners LLC cut its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 18.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,091 shares of the asset manager's stock after selling 15,638 shares during the period. Isthmus Partners LLC owned 0.09% of Artisan Partners Asset Management worth $2,993,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Matrix Trust Co purchased a new position in Artisan Partners Asset Management during the 3rd quarter worth $30,000. GAMMA Investing LLC grew its holdings in shares of Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager's stock worth $32,000 after buying an additional 348 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager's stock valued at $43,000 after acquiring an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Artisan Partners Asset Management by 735.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager's stock valued at $52,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Quarry LP acquired a new stake in Artisan Partners Asset Management during the 2nd quarter worth approximately $63,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APAM shares. The Goldman Sachs Group cut their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating for the company in a research note on Thursday, October 3rd. TD Cowen raised their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Evercore ISI boosted their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM traded up $0.16 on Friday, reaching $48.79. 233,074 shares of the company were exchanged, compared to its average volume of 444,983. The company has a 50-day moving average of $45.12 and a 200-day moving average of $42.92. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 13.59 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 1-year low of $37.16 and a 1-year high of $49.52.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Equities analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 6.72%. Artisan Partners Asset Management's dividend payout ratio is presently 91.36%.

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.