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

Artisan Partners Asset Management (NYSE:APAM) announced its 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 company had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. During the same quarter last year, the business posted $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 Artisan Partners Asset Management stock traded up $0.80 during trading on Friday, hitting $41.84. 95,288 shares of the company were exchanged, compared to its average volume of 478,200. The firm has a 50 day moving average price of $43.72 and a 200 day moving average price of $41.01. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 12.75 and a beta of 1.85. The company has a quick ratio of 0.64, a current ratio of 0.55 and a debt-to-equity ratio of 0.56. Artisan Partners Asset Management has a fifty-two week low of $31.27 and a fifty-two week high of $46.75.

Artisan Partners Asset Management Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Cowen began coverage on Artisan Partners Asset Management in a report on Thursday, January 4th. They set 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.

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 value of $105,700.00. Following the completion of the transaction, the executive vice president now owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.50% of the stock is owned by insiders.

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.