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Wesbanco Bank Inc. Purchases 5,162 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Defense World ·  09/27/2022 18:22

Wesbanco Bank Inc. increased its position in Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) by 83.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,358 shares of the asset manager's stock after purchasing an additional 5,162 shares during the period. Wesbanco Bank Inc.'s holdings in Artisan Partners Asset Management were worth $404,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of APAM. HM Payson & Co. bought a new position in shares of Artisan Partners Asset Management in the 1st quarter worth $25,000. Acadian Asset Management LLC bought a new position in Artisan Partners Asset Management during the 1st quarter valued at $26,000. Signaturefd LLC lifted its stake in Artisan Partners Asset Management by 145.6% during the 1st quarter. Signaturefd LLC now owns 813 shares of the asset manager's stock valued at $32,000 after acquiring an additional 482 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Artisan Partners Asset Management by 95.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 840 shares of the asset manager's stock valued at $33,000 after acquiring an additional 410 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Artisan Partners Asset Management by 267.2% during the 1st quarter. Lazard Asset Management LLC now owns 929 shares of the asset manager's stock valued at $36,000 after acquiring an additional 676 shares in the last quarter. 80.86% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

APAM has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price objective on Artisan Partners Asset Management from $33.50 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, July 14th. Evercore ISI raised their price objective on Artisan Partners Asset Management to $35.00 in a research note on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Artisan Partners Asset Management from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.50.

Artisan Partners Asset Management Trading Down 0.8 %

Shares of Artisan Partners Asset Management stock opened at $29.27 on Tuesday. Artisan Partners Asset Management Inc. has a 1 year low of $28.98 and a 1 year high of $52.42. The firm has a market cap of $2.33 billion, a PE ratio of 7.19 and a beta of 1.73. The stock has a fifty day moving average price of $35.45 and a 200-day moving average price of $36.25. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.58 and a quick ratio of 0.58.

Artisan Partners Asset Management (NYSE:APAM – Get Rating) last announced its earnings results on Tuesday, August 2nd. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.05). Artisan Partners Asset Management had a net margin of 24.10% and a return on equity of 131.59%. The business had revenue of $251.40 million for the quarter, compared to analysts' expectations of $264.51 million. During the same period in the prior year, the business earned $1.28 earnings per share. Equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.17 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 8.20%. The ex-dividend date was Tuesday, August 16th. Artisan Partners Asset Management's dividend payout ratio (DPR) is currently 58.97%.

Artisan Partners Asset Management Profile

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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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