Salvus Wealth Management LLC Takes $207,000 Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Salvus Wealth Management LLC bought a new position in Artisan Partners Asset Management Inc. (NYSE:APAM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,291 shares of the asset manager’s stock, valued at approximately $207,000.

Several other hedge funds have also recently made changes to their positions in APAM. Vanguard Group Inc. raised its stake in Artisan Partners Asset Management by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,097,132 shares of the asset manager’s stock valued at $348,582,000 after acquiring an additional 78,979 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Artisan Partners Asset Management by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,772,632 shares of the asset manager’s stock valued at $119,362,000 after buying an additional 128,717 shares in the last quarter. Geode Capital Management LLC grew its stake in Artisan Partners Asset Management by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,813,598 shares of the asset manager’s stock valued at $78,092,000 after buying an additional 38,284 shares in the last quarter. Channing Capital Management LLC raised its holdings in Artisan Partners Asset Management by 14.5% during the 4th quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager’s stock valued at $76,221,000 after acquiring an additional 224,455 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Artisan Partners Asset Management by 3.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,589,586 shares of the asset manager’s stock worth $68,432,000 after acquiring an additional 56,190 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Samuel Bentson Sellers sold 6,801 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the transaction, the executive vice president now owns 40,529 shares in the company, valued at $1,793,002.96. This represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.53% of the stock is owned by insiders.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $40.52 on Thursday. The company has a 50-day simple moving average of $38.76 and a two-hundred day simple moving average of $42.10. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 11.13 and a beta of 1.68. The company has a quick ratio of 0.73, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $277.10 million during the quarter, compared to analysts’ expectations of $281.15 million. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. Artisan Partners Asset Management’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, equities analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is 75.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. TD Securities boosted their target price on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Wall Street Zen upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Finally, Royal Bank of Canada boosted their price objective on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management has an average rating of “Hold” and a consensus price target of $37.90.

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.