Tidal Investments LLC Acquires New Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Tidal Investments LLC bought a new position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 41,564 shares of the asset manager's stock, valued at approximately $1,801,000. Tidal Investments LLC owned about 0.05% of Artisan Partners Asset Management as of its most recent filing with the Securities and Exchange Commission.

A number of 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 $30,000. Hexagon Capital Partners LLC boosted its position in shares of Artisan Partners Asset Management by 41.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager's stock valued at $43,000 after acquiring an additional 296 shares during the period. GAMMA Investing LLC grew its stake in shares of Artisan Partners Asset Management by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,128 shares of the asset manager's stock valued at $49,000 after acquiring an additional 353 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Artisan Partners Asset Management by 735.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager's stock valued at $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP acquired a new stake in Artisan Partners Asset Management in the 2nd quarter worth about $63,000. Institutional investors and hedge funds own 86.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on APAM. Evercore ISI increased their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. StockNews.com upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped 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. Finally, TD Cowen increased their target price on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $44.13.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded down $1.64 during trading hours on Wednesday, hitting $44.13. 196,230 shares of the stock were exchanged, compared to its average volume of 438,343. The company's fifty day simple moving average is $46.43 and its two-hundred day simple moving average is $43.18. The company has a market cap of $3.55 billion, a PE ratio of 12.29 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. Artisan Partners Asset Management Inc. has a 1-year low of $37.89 and a 1-year high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The firm had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. During the same quarter last year, the business posted $0.75 EPS. The company's revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend was Friday, November 15th. Artisan Partners Asset Management's dividend payout ratio is presently 91.36%.

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.