Jennison Associates LLC Invests $1.15 Million in Artisan Partners Asset Management Inc. (NYSE:APAM)

Jennison Associates LLC acquired a new position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,593 shares of the asset manager's stock, valued at approximately $1,152,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Artisan Partners Asset Management in the second quarter valued at $10,685,000. Victory Capital Management Inc. raised its holdings in Artisan Partners Asset Management by 22.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager's stock valued at $48,609,000 after acquiring an additional 202,074 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Artisan Partners Asset Management by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager's stock worth $273,494,000 after acquiring an additional 160,297 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Artisan Partners Asset Management during the second quarter worth approximately $4,531,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Artisan Partners Asset Management by 7.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager's stock valued at $59,197,000 after purchasing an additional 102,421 shares during the last quarter. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Trading Up 0.5 %

Shares of NYSE:APAM traded up $0.24 during midday trading on Friday, hitting $47.70. 368,225 shares of the stock were exchanged, compared to its average volume of 459,366. The business's 50-day moving average price is $44.63 and its 200 day moving average price is $42.80. Artisan Partners Asset Management Inc. has a 12 month low of $36.45 and a 12 month high of $49.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 13.29 and a beta of 1.79.

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

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 6.88%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management's dividend payout ratio is currently 91.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. StockNews.com upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, Evercore ISI increased 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 note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $44.13.

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.