US Bancorp DE Decreases Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

US Bancorp DE cut its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 35.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,363 shares of the asset manager’s stock after selling 1,324 shares during the quarter. US Bancorp DE’s holdings in Artisan Partners Asset Management were worth $102,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co purchased a new position in Artisan Partners Asset Management during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in shares of Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in 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 during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Artisan Partners Asset Management by 735.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Quarry LP acquired a new stake in Artisan Partners Asset Management during the 2nd quarter worth about $63,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $46.67 on Friday. The company has a market capitalization of $3.75 billion, a P/E ratio of 13.00 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 12-month low of $36.45 and a 12-month high of $49.52. The business’s 50 day moving average is $43.93 and its two-hundred day moving average is $42.63. 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 (NYSE:APAM) last announced its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) 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 analyst estimates 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 revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Analysts expect that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 7.03%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 91.36%.

Analysts Set New Price Targets

A number of brokerages have recently commented on APAM. Evercore ISI upped their target price on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised 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 target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.13.

About Artisan Partners Asset Management

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.