Executive Vice President of Artisan Partners (NYSE:APAM) Asset Management Inc. (NYSE:APAM), Gregory K. Ramirez, has sold a total of 2,195 shares of the company's Class B Common Stock on April 30, 2024. The shares were sold at a price of $45.56 per share, amounting to a transaction value of over $100,000.
The recent filing with the Securities and Exchange Commission indicates that Ramirez executed a sale of his Class B Common Units of Artisan Partners Holdings LP, which correspond to the Class B Common Stock of Artisan Partners Asset Management. Following the transaction, Ramirez still holds a substantial number of shares, with 69,784 shares remaining in his possession.
Artisan Partners Asset Management, a firm specializing in investment advice, is known for its diverse array of investment strategies. The sale by Ramirez reflects a standard financial move by a company executive, and it is not uncommon for executives to sell portions of their stock holdings for various personal financial strategies.
Investors and market watchers often keep a close eye on insider transactions as they may provide insights into the company's performance and executive confidence. However, it's important to note that these transactions are routine and are disclosed in compliance with SEC regulations.
Shares of Artisan Partners Asset Management Inc. are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:APAM. The company has not issued any statements regarding this latest transaction by its Executive Vice President, and it remains business as usual for the Milwaukee-based investment firm.
InvestingPro Insights
Following the recent insider transaction by Executive Vice President Gregory K. Ramirez, investors may seek additional context to gauge the financial health and future prospects of Artisan Partners Asset Management Inc. (NYSE:APAM). Here are some curated insights based on the latest data and InvestingPro Tips:
Artisan Partners Asset Management is currently trading at a Price-to-Earnings (P/E) ratio of 12.42, which suggests the stock may be undervalued relative to its near-term earnings growth potential. This is reinforced by a PEG Ratio for the last twelve months as of Q1 2024 standing at 0.7, indicating that the company's earnings growth could outpace its P/E ratio, potentially offering a compelling value proposition for investors.
Furthermore, the company's commitment to returning value to shareholders is evident through its significant dividend yield, which stands at 6.66% as of the latest dividend ex-date. This is coupled with a consistent record of dividend payments, with Artisan Partners maintaining these payments for 12 consecutive years, reflecting financial stability and a shareholder-friendly policy.
The company's Price / Book multiple for the last twelve months as of Q1 2024 is relatively high at 10.26, which might suggest a premium valuation compared to its book value. However, it's important to consider this in the context of the company's overall financial performance and sector benchmarks.
Investors interested in a deeper dive into Artisan Partners Asset Management's financials and future outlook can explore more InvestingPro Tips. For instance, there are additional insights available including the company's volatility, cash flow adequacy, and liquidity position. In total, there are 11 InvestingPro Tips available for APAM at InvestingPro.
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