Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,422 shares of the asset manager's stock after selling 9,398 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Artisan Partners Asset Management worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in APAM. Wasatch Advisors LP increased its position in Artisan Partners Asset Management by 25.3% during the third quarter. Wasatch Advisors LP now owns 1,812,080 shares of the asset manager's stock valued at $78,499,000 after acquiring an additional 365,434 shares during the last quarter. Millennium Management LLC bought a new position in Artisan Partners Asset Management during the 2nd quarter valued at about $10,685,000. Victory Capital Management Inc. raised its position 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 worth $48,609,000 after purchasing an additional 202,074 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Artisan Partners Asset Management by 2.5% in 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 purchasing an additional 160,297 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Artisan Partners Asset Management by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,643,915 shares of the asset manager's stock valued at $114,534,000 after buying an additional 154,536 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Stock Performance

APAM stock opened at $42.88 on Friday. Artisan Partners Asset Management Inc. has a one year low of $37.89 and a one year high of $49.54. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 11.94 and a beta of 1.80. 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 firm has a 50-day simple moving average of $45.50 and a two-hundred day simple moving average of $43.37.

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 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The firm had revenue of $279.60 million for the quarter, compared to analysts' expectations of $279.70 million. During the same quarter in the previous year, the company posted $0.75 EPS. The company's revenue was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Artisan Partners Asset Management Inc. will post 3.18 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 7.65%. Artisan Partners Asset Management's dividend payout ratio (DPR) is 91.37%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APAM. The Goldman Sachs Group decreased their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating for the company in a report on Thursday, October 3rd. StockNews.com upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. 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. Finally, TD Cowen boosted their price objective 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. One 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.