Apollon Wealth Management LLC Has $356,000 Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Apollon Wealth Management LLC trimmed its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,227 shares of the asset manager’s stock after selling 703 shares during the period. Apollon Wealth Management LLC’s holdings in Artisan Partners Asset Management were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of APAM. Millennium Management LLC bought a new position in shares of Artisan Partners Asset Management during the 2nd quarter worth about $10,685,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after acquiring an additional 160,297 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Artisan Partners Asset Management during the 2nd quarter worth about $4,531,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Artisan Partners Asset Management by 7.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock worth $59,197,000 after acquiring an additional 102,421 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Artisan Partners Asset Management by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock worth $66,757,000 after acquiring an additional 74,393 shares during the period. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APAM has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a report on Monday, July 29th. The Goldman Sachs Group cut their price target on shares of 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. TD Cowen lifted their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI raised 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Down 2.4 %

Shares of NYSE:APAM opened at $46.67 on Monday. Artisan Partners Asset Management Inc. has a one year low of $36.45 and a one year high of $49.52. The company has a 50 day moving average of $43.93 and a 200-day moving average of $42.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 13.00 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS 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 company had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same quarter in the previous year, the company earned $0.75 EPS. Artisan Partners Asset Management’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 79.11%.

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.