Meeder Asset Management Inc. Makes New Investment in Artisan Partners Asset Management Inc. (NYSE:APAM)

Meeder Asset Management Inc. acquired a new position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,539 shares of the asset manager’s stock, valued at approximately $105,000.

Several other hedge funds also recently modified their holdings of the stock. Mather Group LLC. acquired a new position in Artisan Partners Asset Management during the 1st quarter worth approximately $26,000. Quadrant Capital Group LLC raised its position in shares of Artisan Partners Asset Management by 70.3% during the fourth quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock worth $28,000 after purchasing an additional 265 shares during the period. MCF Advisors LLC bought a new position in shares of Artisan Partners Asset Management in the 1st quarter worth $31,000. Principal Securities Inc. acquired a new stake in Artisan Partners Asset Management in the 4th quarter valued at $31,000. Finally, Scarborough Advisors LLC bought a new stake in Artisan Partners Asset Management during the 4th quarter valued at $34,000. Institutional investors own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

APAM has been the subject of a number of analyst reports. StockNews.com cut shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $40.81 on Friday. The company has a fifty day moving average price of $41.02 and a 200-day moving average price of $42.46. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 12.44 and a beta of 1.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71. Artisan Partners Asset Management Inc. has a 1 year low of $32.12 and a 1 year high of $46.75.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm had revenue of $270.80 million during the quarter, compared to the consensus estimate of $274.70 million. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts predict that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 6.96%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s payout ratio is currently 86.59%.

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.