Envestnet Portfolio Solutions Inc. Raises Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Envestnet Portfolio Solutions Inc. raised its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 10.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,547 shares of the asset manager’s stock after buying an additional 841 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Artisan Partners Asset Management were worth $368,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank grew its stake in Artisan Partners Asset Management by 0.7% during the third quarter. Swiss National Bank now owns 136,600 shares of the asset manager’s stock valued at $5,918,000 after acquiring an additional 900 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Artisan Partners Asset Management by 18.0% during the 3rd quarter. Pathstone Holdings LLC now owns 38,026 shares of the asset manager’s stock valued at $1,647,000 after purchasing an additional 5,802 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Artisan Partners Asset Management in the third quarter worth $570,000. Citigroup Inc. raised its position in shares of Artisan Partners Asset Management by 54.4% in the third quarter. Citigroup Inc. now owns 90,298 shares of the asset manager’s stock worth $3,912,000 after buying an additional 31,803 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Artisan Partners Asset Management during the third quarter valued at $661,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Trading Down 1.1 %

Shares of APAM stock opened at $40.88 on Thursday. The business has a 50-day moving average price of $42.70 and a two-hundred day moving average price of $43.94. Artisan Partners Asset Management Inc. has a 12-month low of $37.89 and a 12-month high of $49.54. The company has a quick ratio of 0.73, a current ratio of 0.56 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.28 billion, a P/E ratio of 11.23 and a beta of 1.83.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, February 4th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.08. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. Equities analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, February 14th. Artisan Partners Asset Management’s dividend payout ratio is currently 92.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APAM. Royal Bank of Canada decreased their target price on Artisan Partners Asset Management from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.38.

Artisan Partners Asset Management 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.