On September 18, 2023, it was reported that First Hawaiian Bank has acquired a new position in shares of Artisan Partners Asset Management Inc. (NYSE: APAM) during the second quarter. According to the company’s disclosure with the Securities and Exchange Commission, the institutional investor purchased 11,740 shares of the asset manager’s stock, which are valued at approximately $461,000.
This acquisition indicates First Hawaiian Bank’s confidence in Artisan Partners Asset Management and its potential for growth in the market. As a prominent financial institution, First Hawaiian Bank carefully evaluates investment opportunities to ensure maximum returns for its clients and shareholders.
In addition to this news, Artisan Partners Asset Management recently announced a quarterly dividend payment. On Thursday, August 31st, investors who were recorded as shareholders on Thursday, August 17th received a dividend of $0.61 per share. With an annualized basis of $2.44 per share and a yield of 6.56%, this represents an increase from the company’s previous quarterly dividend of $0.50.
The ex-dividend date for this dividend was Wednesday, August 16th. A payout ratio analysis reveals that Artisan Partners Asset Management currently distributes approximately 84.43% of its earnings as dividends.
These developments provide valuable insights into both First Hawaiian Bank’s investment decisions and Artisan Partners Asset Management’s commitment to rewarding its shareholders through regular dividends. These factors contribute to strengthening investor confidence in the company and may attract further interest from potential investors.
As always, it is important for investors to conduct thorough research before making any investment decisions regarding securities such as Artisan Partners Asset Management Inc. (NYSE: APAM). Consulting expert opinions and analyzing comprehensive reports can help individuals make informed choices that align with their financial goals and risk tolerance.
Please note that this article is based on information available as of September 18, 2023, and may not reflect the current status or future developments of First Hawaiian Bank and Artisan Partners Asset Management. It is advised to refer to the latest company updates and consult with a financial advisor for the most up-to-date and accurate information.
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Institutional Investors Increase Holdings in Artisan Partners Asset Management: Potential Growth Prospects and Analysis
In recent news, several large investors have made significant moves with regards to shares of Artisan Partners Asset Management (NYSE: APAM). Raymond James Financial Services Advisors Inc. has increased its holdings in the company by 26.1% during the first quarter, now owning 27,715 shares worth $1,091,000. Bank of New York Mellon Corp has also lifted its position in Artisan Partners Asset Management by 3.0% during the same period, bringing their total shares to 832,958 valued at $32,777,000. HighTower Advisors LLC saw a 19.9% increase in their position, acquiring an additional 3,673 shares and now owning a total of 22,175 worth $874,000.
Private Advisor Group LLC has jumped on board as well, entering a new position with Artisan Partners Asset Management valued at approximately $256,000 during the first quarter. Finally, Citigroup Inc.’s investment in the asset manager’s stock has soared by an astounding 134.5%, adding an extra 24,053 shares to reach a total of 41,939 valued at $1,650,000.
It is important to note that institutional investors and hedge funds own a staggering 89.45% of Artisan Partners Asset Management’s stock. This level of involvement from major financial players is expected considering the size and reputation of the company.
Renowned research firms have closely followed these developments and have provided their insights into APAM’s potential growth prospects. Royal Bank of Canada recently raised their price target for Artisan Partners Asset Management from $40.00 to $45.00 in a research note on July 21st. Furthermore,
StockNews.com upgraded their rating for APAM from “hold” to “buy.” However,
there is still some mixed sentiment among analysts regarding this stock as one analyst rated it as “sell,” while two rated it as “hold,” and two others as “buy.” Based on data from Bloomberg.com, the general consensus rating for Artisan Partners Asset Management stands at “Hold,” with a consensus price target of $34.75.
Artisan Partners Asset Management, traded on the New York Stock Exchange under the ticker APAM, opened at $37.22 on Monday. The company’s financial indicators indicate a relatively stable standing, with a debt-to-equity ratio of 0.65 and a quick ratio of 0.58. Its 50-day simple moving average sits at $39.09, while its 200-day simple moving average rests at $35.75.
Looking at the company’s market capitalization, Artisan Partners Asset Management boasts an impressive figure of $2.73 billion and has a price-to-earnings ratio of 12.88, suggesting favorable valuation metrics compared to industry peers. Additionally, with a beta value of 1.86, the stock displays moderate volatility compared to movements in the broader market.
The year-long trading range for APAM spans from a low of $25.67 to a high of $42.97 – indicative of some fluctuation but still within reasonable levels given market conditions.
In terms of earnings performance, Artisan Partners Asset Management recently released its earnings report for the quarter ending August 2nd. The company reported an impressive $0.71 earnings per share (EPS), surpassing analysts’ consensus estimates by $0.10 per share or approximately 16%. Revenue for the quarter came in slightly lower than expected, totaling $242.90 million compared to the consensus estimate of $245.55 million.
Despite this slight revenue miss, Artisan Partners Asset Management demonstrated solid profitability indicators during this period with a return on equity (ROE) reaching an impressive 77.65%. Furthermore, net margin stood at an attractive 21.49%, showcasing the company’s ability to generate profit relative to its total revenue. It is worth noting, however, that the company experienced a 3.4% decline in quarterly revenue compared to the same period last year.
In conclusion, as we approach the close of September 2023, Artisan Partners Asset Management has garnered significant attention from large investors, as reflected in their recent buy and sell actions. Research firms have provided varied opinions on APAM’s future prospects, but overall sentiment reflects a “Hold” rating with an average price target of $34.75.
With stable financial metrics, a reasonable debt-to-equity ratio, and consistent trading performance within a defined range, Artisan Partners Asset Management presents itself as an appealing investment option for those seeking exposure to the asset management industry.
As always, prospective investors are encouraged to conduct thorough research and consult with trusted financial advisors before making any investment decisions.
