Artisan Partners Asset Management Inc (NYSE:APAM) Announces Dividend Increase – $0.60 Per Share

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.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 30th. The asset manager reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $196.99 million. Artisan Partners Asset Management had a return on equity of 169.94% and a net margin of 18.40%. Artisan Partners Asset Management’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.76 earnings per share. On average, sell-side analysts expect that Artisan Partners Asset Management will post 2.67 earnings per share for the current fiscal year.

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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Dividend History for Artisan Partners Asset Management (NYSE:APAM)

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