Artisan Partners Asset Management Inc. (NYSE:APAM) holds a "Hold" rating from Cowen & Co. with a stock price of $41.65.The company reported preliminary assets under management (AUM) of $180.8 billion as of November 30, 2025.Despite a significant redemption and expected distributions, APAM's stock price shows a slight increase, indicating market resilience.Artisan Partners Asset Management Inc. (NYSE:APAM) is a global investment management firm, offering a diverse range of investment strategies across variou ...

Core Insights - Artisan Partners Asset Management Inc. reported preliminary assets under management (AUM) of $180.8 billion as of November 30, 2025, with Artisan Funds and Artisan Global Funds contributing $87.2 billion and separate accounts and other AUM accounting for $93.6 billion [1] AUM Breakdown by Strategy - The AUM for various strategies as of November 30, 2025, includes: - Global Opportunities: $18,429 million - Global Discovery: $1,838 million - U.S. Mid-Cap Growth: $10,965 million - U.S. Small-Cap Growth: $2,919 million - International Value: $51,542 million - Global Value: $35,083 million - High Income: $12,985 million - Developing World: $4,635 million - Additional strategies also reported [2] Separate Accounts and Other AUM - Separate account and other AUM consists of assets managed through vehicles other than Artisan Funds or Artisan Global Funds, including traditional separate accounts and Artisan-branded collective investment trusts [3] Additional Distributions - The month-end AUM for November includes approximately $800 million of Artisan Funds distributions that were not reinvested, with an expectation of an additional $400 million in December [1] Redemption Activity - The firm experienced a $2.7 billion redemption in early December 2025 from a non-U.S. institutional client across three Growth team strategies, influenced by local pension-market dynamics [1] Company Overview - Artisan Partners is a global multi-asset investment platform offering a range of high value-added investment strategies across various asset classes, committed to attracting experienced investment professionals since 1994 [5]

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Core Viewpoint - The article emphasizes the advantages of a dividend-focused value investment strategy, highlighting its focus on capital preservation and consistent income growth [1]. Group 1: Investment Strategy - The investment strategy prioritizes high-quality value stocks that provide significant growth potential and long-term safety [1]. - The author shares insights from a diversified dividend stock portfolio, indicating a preference for stocks that yield dividends [1]. Group 2: Personal Investment Position - The author has a beneficial long position in shares of APAM, TROW, and BLK, either through stock ownership, options, or other derivatives [2]. - The article reflects the author's personal opinions and investment journey, without any external compensation for the content [2].

Core Viewpoint - Artisan Partners Asset Management Inc. has announced the acquisition of Grandview Property Partners, a real estate private equity firm, to enhance its investment capabilities and diversify its asset management strategies [1][4]. Company Overview - Artisan Partners manages approximately $182.6 billion in assets as of October 31, 2025, and is focused on high value-added investments and thoughtful growth across various asset classes [1][2]. - Grandview Property Partners specializes in middle market properties in the U.S. and has a strong track record with over $2.8 billion in gross investments and $3.3 billion in property sales since its founding [3][7]. Leadership and Team - Grandview is led by a seasoned team with an average of 22 years of collaboration, delivering top-quartile internal rates of return (IRRs) and consistent distributions to paid-in capital [3]. - The leadership includes founding partners Raj Menon, Dean Sotter, Eric Freeman, and Jeff Usas, who have extensive experience in real estate investment [3]. Strategic Implications - The acquisition is expected to advance Artisan's strategic expansion into alternative investments, particularly in private real estate, and create new growth pathways [4]. - Grandview will retain full investment autonomy within Artisan's multi-asset investment platform, allowing it to focus on delivering value-added outcomes for its limited partners [4]. Financial Aspects - The transaction is anticipated to close in the first quarter of 2026, subject to customary closing conditions, and is expected to be mildly accretive to Artisan's earnings per share after the closing of Grandview's next flagship fund [4].

Core Insights - Investors in Artisan Partners Asset Management Inc. (APAM) should monitor stock movements due to significant activity in the options market, particularly the Nov 21, 2025 $22.50 Put, which has high implied volatility [1] Company Overview - Artisan Partners Asset Management is currently rated as Zacks Rank 2 (Buy) in the Financial - Investment Management Industry, which is in the top 21% of the Zacks Industry Rank [3] - Over the last 60 days, one analyst has raised the earnings estimate for the current quarter from $1.04 per share to $1.13 per share, with no downward revisions [3] Market Sentiment - The high implied volatility in options trading suggests that investors anticipate a significant price movement for Artisan Partners Asset Management, potentially indicating an upcoming event that could lead to a major rally or sell-off [2][4] - Options traders often seek high implied volatility options to sell premium, aiming to benefit from the decay of options value if the underlying stock does not move as much as expected [4]

Core Insights - Artisan Partners Asset Management Inc. reported preliminary assets under management (AUM) of $182.6 billion as of October 31, 2025 [1][2] Summary by Category Total Assets Under Management - Total AUM is $182.6 billion, with Artisan Funds and Artisan Global Funds contributing $88.5 billion and separate accounts and other AUM accounting for $94.1 billion [1] AUM by Strategy - The AUM is distributed across various strategies, including: - Global Opportunities: $19,747 million - Global Discovery: $1,882 million - U.S. Mid-Cap Growth: $11,149 million - U.S. Small-Cap Growth: $2,988 million - International Value: $52,454 million - Global Value: $34,498 million - High Income: $13,038 million - Developing World: $4,950 million - Other strategies also contribute to the total AUM [2][3] Investment Approach - Artisan Partners operates as a global multi-asset investment platform, offering a range of high value-added investment strategies across multiple asset classes [4]

Group 1: Pebblebrook Hotel Trust (PEB) - Pebblebrook Hotel Trust is a real estate investment trust with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 5.6% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 7.47, significantly lower than the industry average of 12.70 [1] - Pebblebrook Hotel Trust possesses a Value Score of A [1] Group 2: Preferred Bank (PFBC) - Preferred Bank is a provider of banking products and services with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its next year earnings has also increased by 5.6% over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 8.84, slightly below the industry average of 8.90 [2] - Preferred Bank possesses a Value Score of B [2] Group 3: Artisan Partners Asset Management Inc. (APAM) - Artisan Partners Asset Management Inc. is an asset management company with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 3.8% over the last 60 days [3] - The company has a price-to-earnings ratio (P/E) of 11.82, compared to the industry average of 14.70 [3] - Artisan Partners Asset Management Inc. possesses a Value Score of B [3]

Assets Under Management (AUM) - As of September 30, 2025, the company's assets under management (AUM) increased to $181.3 billion, a rise of $5.8 billion or 3% from $175.5 billion at June 30, 2025, primarily due to $8.3 billion of market appreciation[117]. - Total Assets Under Management (AUM) reached $181.306 billion[131]. - As of September 30, 2025, the total assets under management (AUM) reached $181,306 million, an increase from $167,840 million as of September 30, 2024, representing a growth of approximately 8.7%[136]. - The ending AUM by distribution channel as of September 30, 2025, was $109,165 million (60.2%) for intermediated wealth and $72,141 million (39.8%) for institutional clients[136]. - The beginning AUM for the nine months ended September 30, 2025, was $161,208 million, showing a decrease from $167,840 million at the end of the previous fiscal year[134]. Revenue and Income - Revenue for the three months ended September 30, 2025, was $301.3 million, an 8% increase from $279.6 million for the same period in 2024[117]. - Total operating income for the three months ended September 30, 2025, was $101.8 million, up 9% from $93.2 million in the same period of 2024[142]. - For the nine months ended September 30, 2025, management fees were $861.2 million, a 6% increase from $814.7 million in the same period of 2024[156]. - Total operating income for the nine months ended September 30, 2025, was $268.1 million, a 4% increase from $257.5 million in the same period of 2024[156]. - Net income attributable to Artisan Partners Asset Management Inc. for the three months ended September 30, 2025, was $66.8 million, down 8% from $72.9 million in the same period of 2024[142]. Client Cash Flows - Net client cash flows for the three months ended September 30, 2025, were $(2.3) billion, a significant decline of 213.5% compared to $(0.7) billion for the same period in 2024[123]. - For the nine months ended September 30, 2025, net client cash flows were $(7.0) billion, compared to $(2.9) billion for the same period in 2024, indicating a 144.6% decline[123]. - The company experienced a net client cash flow decline of $2,329 million for the three months ended September 30, 2025, compared to a net inflow of $879 million for the same period in 2024[132]. - Gross client cash inflows for the nine months ended September 30, 2025, totaled $19,331 million, while gross client cash outflows were $26,363 million, resulting in net client cash flows of negative $7,032 million[134]. - Gross client cash inflows for the three months ended September 30, 2025, were $6.084 billion, compared to $6.210 billion for the same period in 2024, a decrease of 2%[137]. Investment Performance - Global Opportunities Strategy reported a 1-year return of 10.43% and a 3-year return of 19.57%[130]. - U.S. Mid-Cap Growth Strategy achieved a 1-year return of 22.48% and a 10-year return of 14.47%[130]. - Non-U.S. Growth Strategy delivered a 1-year return of 30.44% and a 5-year return of 11.23%[130]. - Developing World Strategy posted a 1-year return of 21.09% and a 3-year return of 29.38%[131]. - Global Value Strategy achieved a 1-year return of 21.11% and a 5-year return of 17.52%[131]. - Sustainable Emerging Markets Strategy reported a 1-year return of 28.24% and a 5-year return of 9.47%[130]. - Credit Opportunities Strategy delivered a 1-year return of 15.53% and a 3-year return of 16.34%[130]. - Franchise Strategy reported a 1-year return of 23.94% since its inception[130]. - Value Income Strategy achieved a 1-year return of 4.63% and a 5-year return of 6.32%[130]. Operating Expenses and Margins - The GAAP operating margin was 33.8% for the three months ended September 30, 2025, compared to 33.3% for the same period in 2024, while the adjusted operating margin was 36.2%, up from 35.0%[117]. - Total operating expenses for the three months ended September 30, 2025, were $199.5 million, an increase of 7% from $186.4 million in the same period of 2024[142]. - Total compensation and benefits increased by $14.3 million, or 10%, for the three months ended September 30, 2025, primarily due to a $7.3 million increase in short-term incentive compensation[149]. - Total compensation and benefits accounted for 56% of revenues for the nine months ended September 30, 2025, compared to 55% for the same period in 2024[161]. - The adjusted operating margin improved to 33.4% for the nine months ended September 30, 2025, compared to 32.7% in 2024[174]. Tax and Other Financial Metrics - The provision for income taxes increased by 50% to $36.9 million for the three months ended September 30, 2025, compared to $24.6 million in the same period of 2024[142]. - The effective income tax rate for the three months ended September 30, 2025, was 30.0%, up from 19.1% in the same period of 2024[153]. - The effective income tax rate increased to 24.0% for the nine months ended September 30, 2025, from 19.9% in 2024, influenced by a $10.7 million charge from the enactment of the OBBBA[165][166]. - Artisan's share of total investment gains for the three months ended September 30, 2025, was $15.7 million, including $10.1 million from compensation plan hedges[152]. - Total non-operating income decreased by $13.9 million, or 39%, for the three months ended September 30, 2025, compared to the same period in 2024[151]. Dividends and Distributions - The company declared and distributed dividends of $0.73 per share of Class A common stock during the three months ended September 30, 2025[117]. - The company declared a variable quarterly dividend of $0.88 per share of Class A common stock for the September quarter of 2025, representing approximately 80% of the cash generated in that quarter[185]. - Total distributions from Holdings Partnership to limited partners for the nine months ended September 30, 2025, were $276.8 million, compared to $241.8 million for the same period in 2024, reflecting a 14.5% increase[184]. Cash and Financing Activities - As of September 30, 2025, cash and cash equivalents increased to $300.2 million from $201.2 million as of December 31, 2024, representing a 49.2% increase[175]. - The company had $190 million in unsecured notes outstanding and a $100 million revolving credit facility, which was unused as of September 30, 2025[180]. - Net cash provided by operating activities decreased by $86.5 million for the nine months ended September 30, 2025, totaling $249.2 million compared to $335.7 million for the same period in 2024[190]. - The net cash used in financing activities decreased by $63.4 million for the nine months ended September 30, 2025, totaling $142.5 million compared to $205.9 million for the same period in 2024[192].

Group 1: PennyMac Mortgage Investment Trust (PMT) - PMT is a real estate investment trust that primarily invests in residential mortgage loans and mortgage-related assets [1] - The Zacks Consensus Estimate for PMT's current year earnings has increased by 10.3% over the last 60 days [1] Group 2: TPG RE Finance Trust (TRTX) - TRTX is a commercial real estate finance company focusing on originating, acquiring, and managing commercial mortgage loans and related debt instruments [2] - The Zacks Consensus Estimate for TRTX's current year earnings has increased by 1% over the last 60 days [2] - TRTX has a dividend yield of 13%, which is higher than the industry average of 12.1% [2] Group 3: Artisan Partners Asset Management (APAM) - APAM is an investment management firm that provides high-value added, active investment strategies globally [3] - The Zacks Consensus Estimate for APAM's current year earnings has increased by 1.9% over the last 60 days [3] - APAM has a dividend yield of 6.7%, compared to the industry average of 3% [3]