Artisan Partners Asset Management (NYSE:APAM) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings data on Tuesday. The asset manager reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $279.70 million. During the same period last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year.

Artisan Partners Asset Management Stock Up 1.1 %

Shares of APAM stock traded up $0.47 on Friday, hitting $44.57. The stock had a trading volume of 12,645 shares, compared to its average volume of 444,146. The business has a 50 day moving average of $42.56 and a 200 day moving average of $42.24. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 12.29 and a beta of 1.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.68 and a quick ratio of 0.71. Artisan Partners Asset Management has a 12-month low of $33.90 and a 12-month high of $47.08.

Artisan Partners Asset Management Cuts Dividend

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

Wall Street Analyst Weigh In

APAM has been the topic of a number of recent research reports. TD Cowen raised 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. The Goldman Sachs Group dropped 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. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Artisan Partners Asset Management has a consensus rating of “Hold” and a consensus price target of $44.17.

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.