Dana Investment Advisors Inc. Decreases Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Dana Investment Advisors Inc. cut its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 78.2% in the second quarter, Holdings Channel reports. The institutional investor owned 12,075 shares of the asset manager’s stock after selling 43,262 shares during the period. Dana Investment Advisors Inc.’s holdings in Artisan Partners Asset Management were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Artisan Partners Asset Management by 42.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager’s stock worth $60,965,000 after acquiring an additional 397,424 shares during the last quarter. Wasatch Advisors LP lifted its stake in 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 worth $69,860,000 after purchasing an additional 318,355 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Artisan Partners Asset Management during the second quarter valued at approximately $10,685,000. Jupiter Asset Management Ltd. bought a new position in shares of Artisan Partners Asset Management during the first quarter valued at approximately $9,907,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Artisan Partners Asset Management by 2.5% during the second 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 buying an additional 160,297 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APAM has been the subject of a number of recent analyst reports. TD Cowen boosted 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. The Goldman Sachs Group decreased their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, StockNews.com lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.83.

Artisan Partners Asset Management Trading Down 1.2 %

Shares of NYSE APAM opened at $41.74 on Friday. Artisan Partners Asset Management Inc. has a twelve month low of $32.12 and a twelve month high of $46.75. The firm has a market cap of $3.35 billion, a PE ratio of 12.73 and a beta of 1.79. The business has a fifty day simple moving average of $41.29 and a two-hundred day simple moving average of $42.36. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

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

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 6.80%. The ex-dividend date was Friday, August 16th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s dividend payout ratio is presently 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.