Artisan Partners Asset Management Inc (NYSE:APAM) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Investors of record on Friday, August 16th will be paid a dividend of 0.60 per share by the asset manager on Friday, August 30th. This represents a $2.40 annualized dividend and a yield of 8.78%. The ex-dividend date is Thursday, August 15th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.55.
Artisan Partners Asset Management has a payout ratio of 77.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Artisan Partners Asset Management to earn $2.90 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 82.8%.
Shares of APAM stock opened at $27.35 on Wednesday. The company’s 50 day moving average is $28.29. The firm has a market capitalization of $2.16 billion, a P/E ratio of 9.30, a PEG ratio of 1.49 and a beta of 1.84. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.56 and a current ratio of 0.56. Artisan Partners Asset Management has a 12 month low of $20.16 and a 12 month high of $33.90.
Separately, Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.75.
About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.
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