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

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings results on Tuesday. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02, Briefing.com reports. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.51%. The firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 12.4% on a year-over-year basis.

Artisan Partners Asset Management Stock Up 1.1 %

NYSE APAM traded up $0.47 on Friday, hitting $44.57. 12,645 shares of the company were exchanged, compared to its average volume of 444,146. The company has a market cap of $3.58 billion, a PE ratio of 12.29 and a beta of 1.79. Artisan Partners Asset Management has a 12 month low of $33.90 and a 12 month high of $47.08. The stock has a fifty day moving average of $42.56 and a 200-day moving average of $42.24. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is presently 79.11%.

Wall Street Analyst Weigh In

APAM has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their price objective on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.17.

Artisan Partners Asset Management Company Profile

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.