RDA Financial Network Decreases Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

RDA Financial Network lowered its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 6.7% during the fourth quarter, Holdings Channel reports. The fund owned 8,619 shares of the asset manager’s stock after selling 615 shares during the period. RDA Financial Network’s holdings in Artisan Partners Asset Management were worth $371,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Matrix Trust Co acquired a new position in Artisan Partners Asset Management during the 3rd quarter worth $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 worth $43,000 after buying an additional 296 shares during the period. GAMMA Investing LLC increased its stake 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 worth $49,000 after buying an additional 353 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after buying an additional 1,067 shares during the period. Finally, Quarry LP purchased a new position in Artisan Partners Asset Management in the second quarter worth approximately $63,000. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APAM shares. TD Cowen boosted their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Finally, Evercore ISI raised 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 report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of APAM opened at $42.88 on Friday. Artisan Partners Asset Management Inc. has a 1-year low of $37.89 and a 1-year high of $49.54. The stock has a market cap of $3.45 billion, a PE ratio of 11.94 and a beta of 1.80. 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 firm has a fifty day moving average price of $45.50 and a 200 day moving average price of $43.37.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate 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 business earned $0.75 EPS. As a group, sell-side analysts anticipate that Artisan Partners Asset Management Inc. will post 3.18 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 7.65%. The ex-dividend date was Friday, November 15th. Artisan Partners Asset Management’s payout ratio is currently 91.37%.

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.