Renaissance Technologies LLC Sells 54,800 Shares of Artisan Partners Asset Management Inc. $APAM

Renaissance Technologies LLC lessened its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,348 shares of the asset manager’s stock after selling 54,800 shares during the period. Renaissance Technologies LLC’s holdings in Artisan Partners Asset Management were worth $10,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in shares of Artisan Partners Asset Management in the fourth quarter worth $32,000. Triumph Capital Management lifted its position in Artisan Partners Asset Management by 112.5% during the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock worth $35,000 after purchasing an additional 450 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in Artisan Partners Asset Management during the fourth quarter worth about $37,000. IFP Advisors Inc grew its stake in Artisan Partners Asset Management by 45.8% during the third quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Artisan Partners Asset Management during the fourth quarter worth about $51,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $39.29 on Monday. The business’s 50 day simple moving average is $36.99 and its 200 day simple moving average is $38.51. Artisan Partners Asset Management Inc. has a one year low of $33.96 and a one year high of $48.46. The stock has a market capitalization of $3.17 billion, a PE ratio of 9.54 and a beta of 1.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.83 and a quick ratio of 0.82.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $307.91 million for the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. Artisan Partners Asset Management’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. As a group, research analysts forecast that Artisan Partners Asset Management Inc. will post 3.91 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.80 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 8.1%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 74.76%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Research downgraded Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. The Goldman Sachs Group lowered their price target on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $38.00.

Artisan Partners Asset Management Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.