Ritholtz Wealth Management Sells 3,417 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Ritholtz Wealth Management lowered its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,172 shares of the asset manager’s stock after selling 3,417 shares during the period. Ritholtz Wealth Management’s holdings in Artisan Partners Asset Management were worth $825,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Matrix Trust Co bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC increased its stake in shares of Artisan Partners Asset Management by 41.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Artisan Partners Asset Management by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,128 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 353 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Artisan Partners Asset Management by 735.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth approximately $63,000. 86.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on APAM. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. 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 report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, Evercore ISI upped their target price on shares of 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Artisan Partners Asset Management presently has an average rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of Artisan Partners Asset Management stock opened at $42.88 on Monday. The stock’s fifty day moving average is $45.50 and its 200 day moving average is $43.41. Artisan Partners Asset Management Inc. has a one year low of $37.89 and a one year 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. The stock has a market cap of $3.45 billion, a P/E ratio of 11.94 and a beta of 1.80.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Sell-side analysts anticipate that Artisan Partners Asset Management Inc. will post 3.18 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 7.65%. 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.