Royce & Associates LP Sells 18,318 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Royce & Associates LP cut its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,031,513 shares of the asset manager's stock after selling 18,318 shares during the quarter. Royce & Associates LP owned about 1.28% of Artisan Partners Asset Management worth $44,685,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

APAM has been the topic of a number of analyst reports. Evercore ISI upped their target price 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. Royal Bank of Canada reissued an "outperform" rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. The Goldman Sachs Group decreased their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. StockNews.com upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, TD Cowen boosted their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $44.13.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock traded down $1.13 on Friday, reaching $46.67. The company's stock had a trading volume of 387,265 shares, compared to its average volume of 448,638. Artisan Partners Asset Management Inc. has a twelve month low of $36.45 and a twelve month high of $49.52. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 13.31 and a beta of 1.79. 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 business's fifty day moving average price is $43.78 and its 200 day moving average price is $42.58.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $279.70 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The company's revenue was up 12.4% on a year-over-year basis. Equities analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 7.03%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management's dividend payout ratio is 79.11%.

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.