Artisan Partners Asset Management Inc. Plans Quarterly Dividend of $0.61 (NYSE:APAM)

Artisan Partners Asset Management Inc. (NYSE:APAM) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.61 per share by the asset manager on Friday, May 31st. This represents a $2.44 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Thursday, May 16th.

Artisan Partners Asset Management has decreased its dividend by an average of 6.1% annually over the last three years. Artisan Partners Asset Management has a dividend payout ratio of 73.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Artisan Partners Asset Management to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 76.4%.

Artisan Partners Asset Management Stock Down 3.8 %

Artisan Partners Asset Management stock traded down $1.60 on Thursday, hitting $40.60. 119,754 shares of the stock traded hands, compared to its average volume of 477,006. The business’s fifty day simple moving average is $43.72 and its 200 day simple moving average is $41.01. The firm has a market cap of $3.24 billion, a P/E ratio of 12.38 and a beta of 1.85. Artisan Partners Asset Management has a 1 year low of $31.27 and a 1 year high of $46.75. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03). Artisan Partners Asset Management had a net margin of 22.99% and a return on equity of 74.25%. The firm had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $270.90 million. During the same period last year, the firm earned $0.64 earnings per share. Artisan Partners Asset Management’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Artisan Partners Asset Management will post 3.38 earnings per share for the current year.

Insider Activity

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of Artisan Partners Asset Management stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $42.28, for a total value of $105,700.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APAM. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. TD Cowen initiated coverage on shares of Artisan Partners Asset Management in a research report on Thursday, January 4th. They issued a “market perform” rating and a $41.00 price target on the stock.

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.