Verition Fund Management LLC Invests $487,000 in Artisan Partners Asset Management Inc. (NYSE:APAM)

Verition Fund Management LLC bought a new stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,242 shares of the asset manager's stock, valued at approximately $487,000.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at $4,531,000. Blue Trust Inc. acquired a new stake in Artisan Partners Asset Management in the second quarter valued at about $72,000. Raymond James & Associates grew its position in Artisan Partners Asset Management by 3.9% in the second quarter. Raymond James & Associates now owns 420,020 shares of the asset manager's stock valued at $17,334,000 after acquiring an additional 15,811 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager's stock worth $59,197,000 after acquiring an additional 102,421 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its holdings in shares of Artisan Partners Asset Management by 12.3% in the second quarter. MeadowBrook Investment Advisors LLC now owns 7,623 shares of the asset manager's stock worth $315,000 after acquiring an additional 835 shares during the last quarter. 86.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APAM. TD Cowen lifted their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a "hold" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on shares of 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. Finally, Evercore ISI increased their price target on 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $44.13.

Artisan Partners Asset Management Trading Down 0.8 %

Shares of Artisan Partners Asset Management stock traded down $0.37 on Thursday, hitting $47.77. The stock had a trading volume of 263,217 shares, compared to its average volume of 440,618. The stock has a 50 day moving average of $46.25 and a 200 day moving average of $43.14. The firm has a market capitalization of $3.84 billion, a P/E ratio of 13.31 and a beta of 1.79. Artisan Partners Asset Management Inc. has a twelve month low of $37.89 and a twelve month high of $49.54. 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 (NYSE:APAM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $279.60 million during the quarter, compared to analysts' expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The company's revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued 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 6.87%. Artisan Partners Asset Management's payout ratio is 91.36%.

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.