Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.5% during the third quarter, HoldingsChannel.com reports. The fund owned 123,420 shares of the asset manager’s stock after selling 3,141 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Artisan Partners Asset Management were worth $5,346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its position in shares of Artisan Partners Asset Management by 4.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 66,159 shares of the asset manager’s stock valued at $3,028,000 after buying an additional 3,106 shares in the last quarter. BOKF NA acquired a new position in Artisan Partners Asset Management during the first quarter worth about $290,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Artisan Partners Asset Management by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,477 shares of the asset manager’s stock valued at $2,036,000 after purchasing an additional 2,239 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at approximately $273,000. Finally, Tidal Investments LLC purchased a new position in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $215,000. 86.45% of the stock is owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $47.70 on Friday. The business’s 50-day moving average price is $44.63 and its 200 day moving average price is $42.80. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. Artisan Partners Asset Management Inc. has a twelve month low of $36.45 and a twelve month high of $49.52. The company has a market capitalization of $3.83 billion, a PE ratio of 13.29 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. During the same period in the prior year, the firm posted $0.75 EPS. The company’s revenue was up 12.4% on a year-over-year basis. On average, research analysts predict that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 6.88%. Artisan Partners Asset Management’s dividend payout ratio is presently 91.37%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APAM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen increased their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their price target 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 boosted their price objective on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.13.

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.