Raymond James Financial Services Advisors Inc. Purchases 4,654 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Raymond James Financial Services Advisors Inc. grew its position in Artisan Partners Asset Management Inc. (NYSE:APAM) by 38.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,776 shares of the asset manager’s stock after purchasing an additional 4,654 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Artisan Partners Asset Management were worth $821,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APAM. Vanguard Group Inc. grew its stake in shares of Artisan Partners Asset Management by 2.6% in the second quarter. Vanguard Group Inc. now owns 5,914,524 shares of the asset manager’s stock worth $300,576,000 after acquiring an additional 148,362 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Artisan Partners Asset Management by 0.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,956,923 shares of the asset manager’s stock worth $201,091,000 after acquiring an additional 15,204 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Artisan Partners Asset Management by 4,591.2% in the second quarter. Macquarie Group Ltd. now owns 1,900,980 shares of the asset manager’s stock worth $96,608,000 after acquiring an additional 1,860,458 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Artisan Partners Asset Management by 17.0% in the second quarter. Geode Capital Management LLC now owns 1,315,974 shares of the asset manager’s stock worth $66,877,000 after acquiring an additional 190,740 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Artisan Partners Asset Management by 7.7% in the second quarter. State Street Corp now owns 1,255,093 shares of the asset manager’s stock worth $63,784,000 after acquiring an additional 89,516 shares during the last quarter. 66.78% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the company. Citigroup lifted their price target on Artisan Partners Asset Management from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 26th. The Goldman Sachs Group cut Artisan Partners Asset Management from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $48.00 in a research note on Tuesday, January 4th. Zacks Investment Research raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Monday, October 4th. Evercore ISI initiated coverage on Artisan Partners Asset Management in a research note on Wednesday, December 22nd. They issued an “inline” rating and a $48.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective on Artisan Partners Asset Management from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Artisan Partners Asset Management presently has an average rating of “Hold” and an average target price of $51.43.

APAM stock opened at $45.90 on Friday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.24 and a beta of 1.77. Artisan Partners Asset Management Inc. has a fifty-two week low of $43.06 and a fifty-two week high of $57.65. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.75 and a quick ratio of 0.75. The business’s fifty day moving average price is $47.24 and its two-hundred day moving average price is $49.16.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Monday, October 25th. The asset manager reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. Artisan Partners Asset Management had a return on equity of 168.02% and a net margin of 27.70%. The firm had revenue of $316.60 million for the quarter, compared to analyst estimates of $315.09 million. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 36.1% on a year-over-year basis. Research analysts expect that Artisan Partners Asset Management Inc. will post 4.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 30th. Shareholders of record on Tuesday, November 16th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date was Monday, November 15th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $1.00. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 86.12%.

In other news, Director Tench Coxe acquired 220,000 shares of Artisan Partners Asset Management stock in a transaction on Tuesday, December 14th. The stock was purchased at an average price of $45.39 per share, with a total value of $9,985,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.32% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.

Further Reading: Support Level

Institutional Ownership by Quarter for Artisan Partners Asset Management (NYSE:APAM)

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