Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Sold by MGO One Seven LLC

Posted by Defense World Staff on Aug 16th, 2023

MGO One Seven LLC trimmed its stake in Artisan Partners Asset Management Inc. (NYSE:APAM – Free Report) by 7.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,104 shares of the asset manager’s stock after selling 807 shares during the quarter. MGO One Seven LLC’s holdings in Artisan Partners Asset Management were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Morgan Stanley grew its holdings in shares of Artisan Partners Asset Management by 138.0% during the fourth quarter. Morgan Stanley now owns 1,817,495 shares of the asset manager’s stock valued at $53,980,000 after buying an additional 1,053,748 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Artisan Partners Asset Management by 43.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,521,140 shares of the asset manager’s stock valued at $45,178,000 after buying an additional 458,383 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in shares of Artisan Partners Asset Management by 25.3% during the first quarter. Wasatch Advisors Inc. now owns 1,097,574 shares of the asset manager’s stock valued at $43,190,000 after buying an additional 221,893 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Artisan Partners Asset Management during the first quarter valued at $8,173,000. Finally, Vanguard Group Inc. grew its stake in Artisan Partners Asset Management by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,206,714 shares of the asset manager’s stock valued at $244,235,000 after purchasing an additional 166,010 shares in the last quarter. 72.28% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Price Performance

NYSE APAM opened at $37.25 on Wednesday. Artisan Partners Asset Management Inc. has a twelve month low of $25.67 and a twelve month high of $42.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $2.73 billion, a PE ratio of 12.89 and a beta of 1.84. The stock has a 50-day simple moving average of $39.30 and a 200 day simple moving average of $35.41.

Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The asset manager reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a return on equity of 77.65% and a net margin of 21.49%. The business had revenue of $242.90 million during the quarter, compared to analysts’ expectations of $245.55 million. During the same quarter in the previous year, the firm earned $0.79 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Research analysts anticipate that Artisan Partners Asset Management Inc. will post 2.63 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Wednesday, August 16th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.50. Artisan Partners Asset Management’s payout ratio is currently 69.20%.

Wall Street Analysts Forecast Growth

APAM has been the topic of a number of recent research reports. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Royal Bank of Canada boosted their target price on Artisan Partners Asset Management from $40.00 to $45.00 in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.75.

Check Out Our Latest Analysis on APAM

Artisan Partners Asset Management Company Profile

(Free Report)

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.