Crescent Grove Advisors LLC Reduces Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Crescent Grove Advisors LLC decreased its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 46.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the asset manager’s stock after selling 5,200 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Artisan Partners Asset Management were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in APAM. Vaughan Nelson Investment Management L.P. raised its stake in Artisan Partners Asset Management by 6.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,533,396 shares of the asset manager’s stock worth $66,426,000 after acquiring an additional 99,005 shares in the last quarter. Quest Partners LLC grew its position in shares of Artisan Partners Asset Management by 210.0% during the third quarter. Quest Partners LLC now owns 59,735 shares of the asset manager’s stock worth $2,588,000 after acquiring an additional 40,468 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Artisan Partners Asset Management by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,775,314 shares of the asset manager’s stock valued at $76,920,000 after acquiring an additional 82,868 shares during the period. Tidal Investments LLC purchased a new stake in Artisan Partners Asset Management in the 3rd quarter valued at $1,801,000. Finally, Raymond James & Associates raised its position in Artisan Partners Asset Management by 8.0% in the 3rd quarter. Raymond James & Associates now owns 453,638 shares of the asset manager’s stock valued at $19,652,000 after purchasing an additional 33,618 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $44.16 on Monday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 12.30 and a beta of 1.80. The business’s 50 day moving average is $45.13 and its two-hundred day moving average is $43.56. Artisan Partners Asset Management Inc. has a 12-month low of $37.89 and a 12-month high of $49.54. 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 quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The firm had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Artisan Partners Asset Management’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts expect that Artisan Partners Asset Management Inc. will post 3.18 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.82 dividend. The ex-dividend date was Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.43%. Artisan Partners Asset Management’s dividend payout ratio is presently 91.37%.

Wall Street Analysts Forecast Growth

APAM has been the subject of a number of research reports. Evercore ISI upped their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group reduced 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 note on Thursday, October 3rd. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upped their price target on 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.13.

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.