Citigroup Inc. Acquires 31,803 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Citigroup Inc. lifted its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 54.4% in the third quarter, HoldingsChannel reports. The fund owned 90,298 shares of the asset manager’s stock after buying an additional 31,803 shares during the period. Citigroup Inc.’s holdings in Artisan Partners Asset Management were worth $3,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APAM. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Artisan Partners Asset Management by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after buying an additional 160,297 shares during the period. Charles Schwab Investment Management Inc. increased its position in Artisan Partners Asset Management by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,643,915 shares of the asset manager’s stock valued at $114,534,000 after purchasing an additional 154,536 shares during the period. Dimensional Fund Advisors LP increased its position in Artisan Partners Asset Management by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock valued at $66,757,000 after purchasing an additional 74,393 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Artisan Partners Asset Management by 6.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,533,396 shares of the asset manager’s stock valued at $66,426,000 after purchasing an additional 99,005 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Artisan Partners Asset Management by 22.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager’s stock worth $48,609,000 after buying an additional 202,074 shares during the period. 86.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI upped their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, TD Cowen increased their price objective on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of “Hold” and an average price target of $44.13.

Artisan Partners Asset Management Trading Down 0.4 %

Shares of APAM opened at $48.91 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. Artisan Partners Asset Management Inc. has a 1 year low of $37.58 and a 1 year high of $49.54. The company has a 50 day simple moving average of $45.36 and a two-hundred day simple moving average of $42.93. The firm has a market cap of $3.93 billion, a P/E ratio of 13.62 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data 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 business 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%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. On average, equities analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend was Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 91.37%.

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.