2016 has been a bumpy year for Artisan's
] stock, yet Barron's
sees a silver lining.
| Mark Adelmann|
Denver Investment Advisors
Partner, Portfolio Manager, Analyst
Barron's Leslie Norton points
to Mark Adelmann
, a partner at Denver Investment Advisors
and a PM on the Westcore Small-Cap Value Dividend Fund
, who praises Artisan as "a quality franchise" and holds the stock in his fund. Barron's notes that, though Artisan's funds have suffered both in terms of performance and outflows this year (and the stock, APAM, is down 27.84 percent to $26.02 per share as of market close on Friday), it's dividend yield has climbed to over nine percent.
Adelmann thinks Artisan's shares should be worth "in the high 30s". A nine-percent dividend yield, he tells Barron's
, is "a pretty attractive payment to wait for improving fundamentals."
Milwaukee-based Artisan dates back to 1995 and has been publicly traded since 2013. As of July 31, 2016, it had $98 billion
in AUM, down from $109 billion
on June 30, 2015 but up from $95 billion
on June 30, 2016. Eric Colson
is managing director, president, and CEO.
Neil Anderson, Managing Editor
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