Zacks: Brokerages Anticipate Artisan Partners Asset Management Inc (APAM) Will Post Quarterly Sales of $178.25 Million

Equities research analysts expect that Artisan Partners Asset Management Inc (NYSE:APAM) will report sales of $178.25 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Artisan Partners Asset Management’s earnings. The highest sales estimate is $181.70 million and the lowest is $174.80 million. Artisan Partners Asset Management posted sales of $212.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 15.9%. The firm is expected to announce its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $751.20 million for the current year, with estimates ranging from $742.30 million to $760.10 million. For the next fiscal year, analysts expect that the business will report sales of $814.85 million, with estimates ranging from $811.10 million to $818.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Monday, February 4th. The asset manager reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $191.50 million for the quarter, compared to the consensus estimate of $193.12 million. Artisan Partners Asset Management had a return on equity of 184.56% and a net margin of 19.10%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS.

Several analysts have weighed in on APAM shares. Citigroup downgraded shares of Artisan Partners Asset Management from a “neutral” rating to a “sell” rating in a research report on Monday, January 14th. TheStreet downgraded shares of Artisan Partners Asset Management from a “b-” rating to a “c+” rating in a research report on Friday, December 7th. Finally, Zacks Investment Research raised shares of Artisan Partners Asset Management from a “sell” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.80.

NYSE:APAM traded up $0.06 during trading hours on Friday, hitting $26.28. 375,041 shares of the company were exchanged, compared to its average volume of 476,439. The company has a market cap of $1.98 billion, a PE ratio of 8.94, a P/E/G ratio of 1.54 and a beta of 1.75. Artisan Partners Asset Management has a 52-week low of $20.16 and a 52-week high of $35.50. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.42.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.52%. The ex-dividend date was Wednesday, February 13th. Artisan Partners Asset Management’s dividend payout ratio is presently 76.19%.

In other Artisan Partners Asset Management news, insider Jason A. Gottlieb sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $26.18, for a total transaction of $261,800.00. Following the sale, the insider now owns 101,710 shares of the company’s stock, valued at approximately $2,662,767.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.23% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in APAM. Clarkston Capital Partners LLC grew its position in Artisan Partners Asset Management by 211.3% during the 4th quarter. Clarkston Capital Partners LLC now owns 2,046,620 shares of the asset manager’s stock worth $45,251,000 after purchasing an additional 1,389,129 shares during the last quarter. Norges Bank purchased a new stake in shares of Artisan Partners Asset Management in the 4th quarter valued at $14,714,000. BlackRock Inc. boosted its holdings in shares of Artisan Partners Asset Management by 9.0% in the 4th quarter. BlackRock Inc. now owns 3,680,976 shares of the asset manager’s stock valued at $81,386,000 after acquiring an additional 305,076 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Artisan Partners Asset Management by 142.4% in the 4th quarter. Raymond James & Associates now owns 495,516 shares of the asset manager’s stock valued at $10,956,000 after acquiring an additional 291,086 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Artisan Partners Asset Management in the 3rd quarter valued at $9,269,000. 62.61% of the stock is currently owned by institutional investors.

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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