Ritholtz Wealth Management Purchases 2,808 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Ritholtz Wealth Management grew its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,364 shares of the asset manager’s stock after buying an additional 2,808 shares during the period. Ritholtz Wealth Management’s holdings in Artisan Partners Asset Management were worth $1,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of APAM. Vanguard Group Inc. increased its position in Artisan Partners Asset Management by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock worth $347,856,000 after acquiring an additional 75,304 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Artisan Partners Asset Management by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,934,002 shares of the asset manager’s stock worth $85,444,000 after purchasing an additional 12,977 shares during the period. Wasatch Advisors LP raised its position in shares of Artisan Partners Asset Management by 25.2% in the fourth quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager’s stock valued at $69,860,000 after buying an additional 318,355 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Artisan Partners Asset Management by 7.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock valued at $59,197,000 after buying an additional 102,421 shares during the period. Finally, Raymond James & Associates grew its position in Artisan Partners Asset Management by 3.9% during the second quarter. Raymond James & Associates now owns 420,020 shares of the asset manager’s stock worth $17,334,000 after buying an additional 15,811 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Artisan Partners Asset Management Stock Performance

NYSE:APAM opened at $41.59 on Tuesday. Artisan Partners Asset Management Inc. has a twelve month low of $32.12 and a twelve month high of $46.75. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $41.10 and its 200 day simple moving average is $42.60. The firm has a market capitalization of $3.34 billion, a PE ratio of 12.68 and a beta of 1.81.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates 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 was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.71 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.83%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 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.