Bank of New York Mellon Corp Cuts Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Bank of New York Mellon Corp trimmed its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 528,413 shares of the asset manager's stock after selling 14,696 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Artisan Partners Asset Management worth $21,808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. lifted its position in Artisan Partners Asset Management by 42.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager's stock valued at $60,965,000 after acquiring an additional 397,424 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Artisan Partners Asset Management by 25.2% in the 4th quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager's stock worth $69,860,000 after acquiring an additional 318,355 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $9,907,000. Edgestream Partners L.P. bought a new position in shares of Artisan Partners Asset Management during the first quarter valued at about $7,287,000. Finally, Assenagon Asset Management S.A. purchased a new position in Artisan Partners Asset Management during the second quarter worth about $4,531,000. 86.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com cut shares of Artisan Partners Asset Management from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, TD Cowen lifted their target price on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th.

Artisan Partners Asset Management Price Performance

NYSE APAM traded down $0.66 on Friday, hitting $39.30. The stock had a trading volume of 219,053 shares, compared to its average volume of 454,454. The firm has a 50-day moving average of $41.03 and a 200-day moving average of $42.53. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 11.98 and a beta of 1.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.71 and a current ratio of 0.71. Artisan Partners Asset Management Inc. has a 52-week low of $32.12 and a 52-week high of $46.75.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $270.80 million during the quarter, compared to the consensus estimate of $274.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. Equities analysts expect that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date was Friday, August 16th. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.61. Artisan Partners Asset Management's payout ratio is 86.59%.

Artisan Partners Asset Management 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.