Artisan Partners Asset Management Inc. (NYSE:APAM – Get Free Report) announced a None dividend on Tuesday, January 30th, Zacks reports. Investors of record on Thursday, February 15th will be paid a dividend of 1.02 per share by the asset manager on Thursday, February 29th. This represents a dividend yield of 5.5%. The ex-dividend date is Wednesday, February 14th. This is an increase from Artisan Partners Asset Management’s previous None dividend of $0.65.
Artisan Partners Asset Management has decreased its dividend payment by an average of 6.1% annually over the last three years and has raised its dividend every year for the last 1 years. Artisan Partners Asset Management has a dividend payout ratio of 77.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Artisan Partners Asset Management to earn $3.44 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 79.1%.
Artisan Partners Asset Management Price Performance
Shares of NYSE APAM opened at $42.86 on Monday. The stock has a market cap of $3.43 billion, a P/E ratio of 13.56 and a beta of 1.88. Artisan Partners Asset Management has a twelve month low of $28.98 and a twelve month high of $45.92. The stock has a 50 day moving average of $42.49 and a two-hundred day moving average of $38.84. The company has a current ratio of 0.49, a quick ratio of 0.65 and a debt-to-equity ratio of 0.57.
Wall Street Analyst Weigh In
APAM has been the subject of several recent research reports. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research note on Wednesday, November 22nd. TD Cowen initiated coverage on Artisan Partners Asset Management in a research report on Thursday, January 4th. They set a “market perform” rating and a $41.00 price objective for the company. Finally, StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.67.
Insider Buying and Selling at Artisan Partners Asset Management
In related news, EVP Gregory K. Ramirez sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $42.28, for a total value of $105,700.00. Following the completion of the sale, the executive vice president now owns 83,335 shares in the company, valued at $3,523,403.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.50% of the stock is owned by corporate insiders.
Institutional Trading of Artisan Partners Asset Management
Several large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Artisan Partners Asset Management by 26.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 27,715 shares of the asset manager’s stock valued at $1,091,000 after purchasing an additional 5,731 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Artisan Partners Asset Management by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 832,958 shares of the asset manager’s stock worth $32,777,000 after acquiring an additional 24,651 shares during the period. HighTower Advisors LLC raised its holdings in Artisan Partners Asset Management by 19.9% in the 1st quarter. HighTower Advisors LLC now owns 22,175 shares of the asset manager’s stock valued at $874,000 after acquiring an additional 3,673 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Artisan Partners Asset Management during the 1st quarter worth $256,000. Finally, Citigroup Inc. grew its position in shares of Artisan Partners Asset Management by 134.5% in the first quarter. Citigroup Inc. now owns 41,939 shares of the asset manager’s stock valued at $1,650,000 after purchasing an additional 24,053 shares during the period. Institutional investors and hedge funds own 89.45% of the company’s stock.
About Artisan Partners Asset Management
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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