Artisan Partners Asset Management (NYSE:APAM) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

Artisan Partners Asset Management Stock Performance

APAM stock traded up $0.83 during trading on Friday, hitting $41.87. The company had a trading volume of 89,154 shares, compared to its average volume of 478,135. Artisan Partners Asset Management has a 1-year low of $31.27 and a 1-year high of $46.75. The firm has a 50-day moving average price of $43.72 and a 200-day moving average price of $41.01. The company has a quick ratio of 0.64, a current ratio of 0.55 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.34 billion, a PE ratio of 12.75 and a beta of 1.85.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.61 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.83%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 82.93%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Artisan Partners Asset Management

In related news, EVP Gregory K. Ramirez sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $42.28, for a total transaction of $105,700.00. Following the sale, the executive vice president now owns 83,335 shares of the company’s stock, valued at $3,523,403.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.50% of the stock is currently owned by corporate insiders.

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.