Greenwich Investment Management Inc. Lowers Stake in Artisan Partners Asset Management Inc (NYSE:APAM)

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Greenwich Investment Management Inc. lowered its stake in shares of Artisan Partners Asset Management Inc (NYSE:APAM) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 63,660 shares of the asset manager’s stock after selling 2,075 shares during the period. Artisan Partners Asset Management makes up approximately 1.7% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 18th largest position. Greenwich Investment Management Inc. owned 0.08% of Artisan Partners Asset Management worth $1,752,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Westpac Banking Corp grew its position in Artisan Partners Asset Management by 2.4% during the 2nd quarter. Westpac Banking Corp now owns 75,370 shares of the asset manager’s stock worth $2,074,000 after purchasing an additional 1,800 shares during the last quarter. Advisor Group Inc. grew its position in Artisan Partners Asset Management by 8.6% during the 2nd quarter. Advisor Group Inc. now owns 62,734 shares of the asset manager’s stock worth $1,727,000 after purchasing an additional 4,959 shares during the last quarter. Aperio Group LLC grew its position in Artisan Partners Asset Management by 1.9% during the 2nd quarter. Aperio Group LLC now owns 30,138 shares of the asset manager’s stock worth $829,000 after purchasing an additional 575 shares during the last quarter. First Trust Advisors LP purchased a new position in Artisan Partners Asset Management during the 2nd quarter worth $1,952,000. Finally, Advantage Investment Management LLC purchased a new position in Artisan Partners Asset Management during the 2nd quarter worth $329,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.75.

Shares of NYSE:APAM opened at $27.35 on Wednesday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. The company has a 50-day moving average price of $28.29. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.84. Artisan Partners Asset Management Inc has a fifty-two week low of $20.16 and a fifty-two week high of $33.90.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 30th. The asset manager reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $200.70 million for the quarter, compared to the consensus estimate of $196.99 million. Artisan Partners Asset Management had a net margin of 18.40% and a return on equity of 169.94%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. As a group, sell-side analysts forecast that Artisan Partners Asset Management Inc will post 2.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.60 dividend. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 8.78%. Artisan Partners Asset Management’s payout ratio is presently 74.83%.

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.

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

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