FORA Capital LLC Buys Shares of 4,680 Artisan Partners Asset Management Inc. (NYSE:APAM)

FORA Capital LLC bought a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) in the 3rd quarter, HoldingsChannel reports. The fund bought 4,680 shares of the asset manager’s stock, valued at approximately $203,000.

Several other institutional investors have also recently added to or reduced their stakes in APAM. Price T Rowe Associates Inc. MD increased its stake in Artisan Partners Asset Management by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,477 shares of the asset manager’s stock valued at $2,036,000 after purchasing an additional 2,239 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Artisan Partners Asset Management during the first quarter valued at $273,000. Tidal Investments LLC bought a new stake in Artisan Partners Asset Management during the first quarter valued at $215,000. Cetera Advisors LLC bought a new position in shares of Artisan Partners Asset Management during the first quarter worth about $560,000. Finally, GAMMA Investing LLC grew its position in shares of Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after acquiring an additional 348 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APAM. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upped their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lowered their price target on shares of 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 upped their price target on shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $48.79 on Friday. The firm has a 50-day moving average price of $45.12 and a 200 day moving average price of $42.92. The firm has a market capitalization of $3.92 billion, a PE ratio of 13.59 and a beta of 1.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.49. Artisan Partners Asset Management Inc. has a 52-week low of $37.16 and a 52-week high of $49.52.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. Artisan Partners Asset Management’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, sell-side analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.82 dividend. The ex-dividend date was Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 6.72%. Artisan Partners Asset Management’s dividend payout ratio is currently 91.36%.

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.