Artisan Partners Asset Management (NYSE:APAM) Announces Quarterly Earnings Results

Artisan Partners Asset Management (NYSE:APAM) issued its earnings results on Wednesday. The asset manager reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03), Briefing.com reports. Artisan Partners Asset Management had a net margin of 22.99% and a return on equity of 72.77%. The firm had revenue of $264.40 million during the quarter, compared to the consensus estimate of $270.90 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis.

Artisan Partners Asset Management Price Performance

APAM stock opened at $41.02 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.55 and a debt-to-equity ratio of 0.56. Artisan Partners Asset Management has a 12 month low of $31.27 and a 12 month high of $46.75. The firm has a market cap of $3.28 billion, a P/E ratio of 12.51 and a beta of 1.85. The company’s 50-day moving average price is $43.72 and its two-hundred day moving average price is $41.01.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Thursday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is currently 82.93%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. TD Cowen assumed coverage on shares of Artisan Partners Asset Management in a report on Thursday, January 4th. They issued a “market perform” rating and a $41.00 price target for the company.

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $42.28, for a total value of $105,700.00. Following the transaction, the executive vice president now directly owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 18.50% of the company’s stock.

Artisan Partners Asset Management Company Profile

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.