Artisan Partners Asset Management (NYSE:APAM) Announces Earnings Results, Beats Estimates By $0.03 EPS

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings results on Tuesday. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03, FiscalAI reports. The firm had revenue of $307.90 million for the quarter, compared to the consensus estimate of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.71% and a net margin of 24.08%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share.

Artisan Partners Asset Management Stock Down 1.6%

Shares of APAM traded down $0.64 during mid-day trading on Thursday, reaching $39.70. The company’s stock had a trading volume of 162,485 shares, compared to its average volume of 755,793. The stock has a market cap of $3.20 billion, a PE ratio of 9.63 and a beta of 1.68. Artisan Partners Asset Management has a 12-month low of $33.96 and a 12-month high of $48.46. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day moving average is $36.91 and its 200 day moving average is $38.57.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 8.1%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. Artisan Partners Asset Management’s payout ratio is currently 77.97%.

Analyst Upgrades and Downgrades

APAM has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. Wall Street Zen downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, TD Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research note on Thursday, April 9th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $39.25.

Institutional Trading of Artisan Partners Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. WealthCollab LLC increased its holdings in shares of Artisan Partners Asset Management by 17.0% in the 2nd quarter. WealthCollab LLC now owns 1,700 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 247 shares during the period. IFP Advisors Inc boosted its position in shares of Artisan Partners Asset Management by 45.8% during the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after purchasing an additional 300 shares in the last quarter. California State Teachers Retirement System grew its position in Artisan Partners Asset Management by 0.5% during the second quarter. California State Teachers Retirement System now owns 64,112 shares of the asset manager’s stock worth $2,842,000 after buying an additional 317 shares during the period. Mariner LLC grew its holdings in shares of Artisan Partners Asset Management by 1.6% in the 3rd quarter. Mariner LLC now owns 20,850 shares of the asset manager’s stock worth $905,000 after acquiring an additional 331 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in Artisan Partners Asset Management by 4.6% in the third quarter. Ausdal Financial Partners Inc. now owns 7,706 shares of the asset manager’s stock valued at $334,000 after purchasing an additional 342 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.