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

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings data on Wednesday. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03), Briefing.com reports. Artisan Partners Asset Management had a return on equity of 72.77% and a net margin of 22.99%. The firm had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $41.02 on Friday. Artisan Partners Asset Management has a 1-year low of $31.27 and a 1-year high of $46.75. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 12.51 and a beta of 1.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.55 and a quick ratio of 0.64. The stock’s 50-day moving average is $43.72 and its two-hundred day moving average is $41.01.

Artisan Partners Asset Management Cuts Dividend

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

Insider Activity

In other 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 value of $105,700.00. Following the transaction, the executive vice president now owns 83,335 shares in the company, valued at approximately $3,523,403.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 18.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.