State Street Corp Boosts Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

State Street Corp raised its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 1.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,742,935 shares of the asset manager's stock after acquiring an additional 33,723 shares during the period. State Street Corp owned approximately 3.41% of Artisan Partners Asset Management worth $118,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Artisan Partners Asset Management by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager's stock valued at $273,494,000 after acquiring an additional 160,297 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 last quarter. Wasatch Advisors LP lifted its holdings in Artisan Partners Asset Management by 25.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,812,080 shares of the asset manager's stock valued at $78,499,000 after buying an additional 365,434 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Artisan Partners Asset Management by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager's stock valued at $66,757,000 after purchasing an additional 74,393 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Artisan Partners Asset Management by 6.9% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,533,396 shares of the asset manager's stock worth $66,426,000 after purchasing an additional 99,005 shares during the period. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Stock Down 1.6 %

NYSE:APAM traded down $0.78 during midday trading on Friday, reaching $46.96. The company had a trading volume of 262,231 shares, compared to its average volume of 439,877. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 13.08 and a beta of 1.79. The stock's fifty day simple moving average is $46.33 and its 200-day simple moving average is $43.15. Artisan Partners Asset Management Inc. has a 12-month low of $37.89 and a 12-month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, topping 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 business had revenue of $279.60 million during the quarter, compared to analysts' expectations of $279.70 million. During the same period in the previous year, the company earned $0.75 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.82 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a yield of 6.98%. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 91.37%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APAM. Evercore ISI lifted their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. The Goldman Sachs Group cut their price objective 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. TD Cowen lifted their target price 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. Finally, StockNews.com raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.13.

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.