Kayne Anderson Rudnick Investment Management LLC Has $282.48 Million Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,561,601 shares of the asset manager's stock after selling 137,442 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 8.17% of Artisan Partners Asset Management worth $282,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in APAM. Raymond James Financial Inc. acquired a new stake in Artisan Partners Asset Management in the fourth quarter worth $20,607,000. Channing Capital Management LLC increased its holdings in shares of Artisan Partners Asset Management by 14.5% in the 4th quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager's stock worth $76,221,000 after acquiring an additional 224,455 shares during the period. Norges Bank bought a new stake in Artisan Partners Asset Management in the 4th quarter valued at about $5,627,000. Charles Schwab Investment Management Inc. boosted its stake in Artisan Partners Asset Management by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,772,632 shares of the asset manager's stock valued at $119,362,000 after purchasing an additional 128,717 shares during the period. Finally, Renaissance Technologies LLC grew its position in Artisan Partners Asset Management by 94.1% in the 4th quarter. Renaissance Technologies LLC now owns 224,023 shares of the asset manager's stock worth $9,644,000 after purchasing an additional 108,600 shares during the last quarter. Institutional investors own 86.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APAM. TD Cowen reduced their price objective on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Evercore ISI decreased their price target on Artisan Partners Asset Management from $40.00 to $33.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. StockNews.com cut shares of Artisan Partners Asset Management from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their target price on shares of Artisan Partners Asset Management from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Artisan Partners Asset Management currently has an average rating of "Hold" and an average target price of $39.63.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock traded down $0.20 during midday trading on Friday, hitting $36.98. The company's stock had a trading volume of 130,643 shares, compared to its average volume of 460,980. Artisan Partners Asset Management Inc. has a 12 month low of $32.75 and a 12 month high of $49.54. The company has a quick ratio of 0.73, a current ratio of 0.56 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2.97 billion, a PE ratio of 10.15 and a beta of 1.80. The stock's 50-day moving average price is $39.15 and its 200-day moving average price is $43.02.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.08. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. Analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, February 14th. Artisan Partners Asset Management's dividend payout ratio (DPR) is currently 92.31%.

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.