Meritage Portfolio Management Sells 2,859 Shares of Artisan Partners Asset Management Inc. $APAM

Meritage Portfolio Management trimmed its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,720 shares of the asset manager’s stock after selling 2,859 shares during the period. Meritage Portfolio Management’s holdings in Artisan Partners Asset Management were worth $4,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in APAM. SVB Wealth LLC bought a new position in shares of Artisan Partners Asset Management in the 1st quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its position in Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after buying an additional 249 shares during the period. Continuum Advisory LLC bought a new position in Artisan Partners Asset Management in the 1st quarter worth approximately $63,000. Legend Financial Advisors Inc. bought a new position in Artisan Partners Asset Management in the 2nd quarter worth approximately $75,000. Finally, CWM LLC increased its position in Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock worth $83,000 after buying an additional 925 shares during the period. 86.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Zacks Research downgraded Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Evercore ISI dropped their price target on Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday. Royal Bank Of Canada lifted their price target on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. TD Cowen dropped their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Artisan Partners Asset Management in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Artisan Partners Asset Management Stock Performance

APAM opened at $42.34 on Friday. The stock has a market cap of $3.42 billion, a PE ratio of 11.26 and a beta of 1.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Artisan Partners Asset Management Inc. has a 1 year low of $32.75 and a 1 year high of $49.54. The stock’s 50 day simple moving average is $45.57 and its 200-day simple moving average is $42.87.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $282.80 million for the quarter, compared to analysts’ expectations of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.Artisan Partners Asset Management’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. Sell-side analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.73 per share. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Friday, August 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 77.66%.

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.