Artisan Partners Asset Management (NYSE:APAM) Issues Earnings Results

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings results on Wednesday. The asset manager reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03), Briefing.com reports. Artisan Partners Asset Management had a return on equity of 73.85% and a net margin of 22.80%. The firm had revenue of $264.40 million for the quarter, compared to analyst estimates of $270.90 million. During the same quarter last year, the company earned $0.64 earnings per share. 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 traded down $2.35 on Wednesday, reaching $41.08. 208,959 shares of the company’s stock were exchanged, compared to its average volume of 476,703. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.28 billion, a PE ratio of 13.04 and a beta of 1.85. Artisan Partners Asset Management has a twelve month low of $31.27 and a twelve month high of $46.75. The stock has a fifty day moving average of $43.65 and a 200-day moving average of $40.95.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a dividend of $1.02 per share. This represents a yield of 5.5%. The ex-dividend date was Wednesday, February 14th. This is a positive change from Artisan Partners Asset Management’s previous None dividend of $0.65. Artisan Partners Asset Management’s dividend payout ratio is currently 86.08%.

Insider Buying and Selling at Artisan Partners Asset Management

In related news, EVP Gregory K. Ramirez sold 2,500 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $42.28, for a total transaction of $105,700.00. Following the transaction, the executive vice president now directly owns 83,335 shares in the company, valued at $3,523,403.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.