Velanne Asset Management Ltd Boosts Holdings in Artisan Partners Asset Management Inc (APAM)

Velanne Asset Management Ltd boosted its position in shares of Artisan Partners Asset Management Inc (NYSE:APAM) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,500 shares of the asset manager’s stock after buying an additional 5,770 shares during the quarter. Artisan Partners Asset Management makes up approximately 2.5% of Velanne Asset Management Ltd’s holdings, making the stock its 19th largest holding. Velanne Asset Management Ltd owned about 0.19% of Artisan Partners Asset Management worth $3,687,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of APAM. Vanguard Group Inc boosted its stake in shares of Artisan Partners Asset Management by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 4,596,556 shares of the asset manager’s stock worth $148,928,000 after buying an additional 81,738 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Artisan Partners Asset Management by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,596,556 shares of the asset manager’s stock worth $148,928,000 after purchasing an additional 81,738 shares during the period. BlackRock Inc. increased its holdings in shares of Artisan Partners Asset Management by 9.0% during the fourth quarter. BlackRock Inc. now owns 3,680,976 shares of the asset manager’s stock worth $81,386,000 after purchasing an additional 305,076 shares during the period. Clarkston Capital Partners LLC increased its holdings in shares of Artisan Partners Asset Management by 211.3% during the fourth quarter. Clarkston Capital Partners LLC now owns 2,046,620 shares of the asset manager’s stock worth $45,251,000 after purchasing an additional 1,389,129 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Artisan Partners Asset Management by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,725,151 shares of the asset manager’s stock valued at $38,143,000 after acquiring an additional 6,728 shares during the last quarter. 63.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on APAM. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday. ValuEngine raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, April 9th. Bank of America set a $25.00 target price on shares of Artisan Partners Asset Management and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Finally, Citigroup raised shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 target price for the company in a research note on Monday. Two investment analysts have 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. The company presently has a consensus rating of “Hold” and an average price target of $29.60.

In other Artisan Partners Asset Management news, insider Jason A. Gottlieb sold 10,000 shares of Artisan Partners Asset Management stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $26.18, for a total value of $261,800.00. Following the completion of the transaction, the insider now directly owns 101,710 shares of the company’s stock, valued at approximately $2,662,767.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 28.23% of the company’s stock.

Shares of APAM traded down $0.17 during midday trading on Wednesday, reaching $28.79. The company had a trading volume of 7,652 shares, compared to its average volume of 451,102. Artisan Partners Asset Management Inc has a 1-year low of $20.16 and a 1-year high of $35.50. The company has a market capitalization of $2.16 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.62 and a beta of 1.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.42.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Monday, February 4th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $193.12 million. Artisan Partners Asset Management had a return on equity of 184.56% and a net margin of 19.10%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. As a group, equities analysts anticipate that Artisan Partners Asset Management Inc will post 2.49 earnings per share for the current fiscal year.

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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.

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