Todays Report: The Essex Investment Management Co. LLC Sold shares of Artisan Partners Asset Management Inc. (APAM)

The Essex Investment Management Co. LLC Sold shares of Artisan Partners Asset Management Inc. (APAM)

Essex Investment Management Co. LLC cut its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 1.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,838 shares of the company’s stock after selling 130 shares during the period. Essex Investment Management Co. LLC’s holdings in Artisan Partners Asset Management were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in shares of Artisan Partners Asset Management during the second quarter worth about $105,000. BlackRock Inc. boosted its position in shares of Artisan Partners Asset Management by 345.4% in the first quarter. BlackRock Inc. now owns 4,980 shares of the company’s stock worth $154,000 after buying an additional 3,862 shares during the period. Credit Agricole S A bought a new position in shares of Artisan Partners Asset Management during the first quarter worth about $321,000. Alpha Windward LLC bought a new position in shares of Artisan Partners Asset Management during the second quarter worth about $355,000. Finally, Nisa Investment Advisors L.L.C. bought a new position in shares of Artisan Partners Asset Management during the first quarter worth about $379,000. Institutional investors and hedge funds own 55.86% of the company’s stock.

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) traded up 0.07% during midday trading on Friday, reaching $28.04. The company had a trading volume of 412,856 shares. The stock’s 50 day moving average is $26.94 and its 200-day moving average is $29.38. The stock has a market capitalization of $1.18 billion, a PE ratio of 17.02 and a beta of 1.70. Artisan Partners Asset Management Inc. has a 12-month low of $23.65 and a 12-month high of $40.62.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.04. The company earned $180.80 million during the quarter, compared to analyst estimates of $181.65 million. Artisan Partners Asset Management had a net margin of 9.80% and a return on equity of 141.04%. The company’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, equities research analysts predict that Artisan Partners Asset Management Inc. will post $2.14 earnings per share for the current fiscal year.

APAM has been the topic of several recent analyst reports. Jefferies Group cut their price objective on Artisan Partners Asset Management from $34.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, July 11th. Citigroup Inc. reiterated a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, June 30th. Zacks Investment Research cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Monday, June 13th. Credit Suisse Group AG cut Artisan Partners Asset Management to a “hold” rating in a report on Sunday, July 17th. Finally, Keefe, Bruyette & Woods cut their price objective on Artisan Partners Asset Management from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.70.

In related news, Director Stephanie Dimarco purchased 1,078 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was bought at an average price of $38.95 per share, with a total value of $41,988.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 40.29% of the stock is owned by insiders.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is an investment management firm focused on providing investment strategies to clients around the global. The Company’s operations are conducted through Artisan Partners Holdings LP and its subsidiaries. It operates in the investment management industry. The Company provides investment management services to separate accounts and mutual funds, and other pooled investment vehicles.

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