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

Artisan Partners Asset Management (NYSE:APAMGet Free Report) issued its quarterly earnings results on Tuesday. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03, FiscalAI reports. Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The business had revenue of $307.90 million during the quarter, compared to analyst estimates of $301.32 million. During the same quarter in the prior year, the business posted $0.83 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 8.9% compared to the same quarter last year.

Artisan Partners Asset Management Stock Up 3.3%

Artisan Partners Asset Management stock traded up $1.36 during mid-day trading on Wednesday, reaching $42.24. 158,222 shares of the company were exchanged, compared to its average volume of 750,085. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $3.40 billion, a P/E ratio of 10.69 and a beta of 1.68. The business has a fifty day moving average of $36.83 and a 200 day moving average of $38.60. Artisan Partners Asset Management has a 12-month low of $33.96 and a 12-month high of $48.46.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.80 per share. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. This represents a $3.20 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Monday, August 17th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 77.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, April 9th. Evercore set a $36.00 price target on Artisan Partners Asset Management in a research report on Friday, July 10th. Wall Street Zen lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Zacks Research cut shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $39.25.

View Our Latest Analysis on APAM

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently made changes to their positions in APAM. Triumph Capital Management grew its stake in shares of Artisan Partners Asset Management by 112.5% during the 4th quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock worth $35,000 after purchasing an additional 450 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Artisan Partners Asset Management during the fourth quarter valued at $37,000. IFP Advisors Inc grew its position in Artisan Partners Asset Management by 45.8% during the third quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock valued at $41,000 after buying an additional 300 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Artisan Partners Asset Management in the fourth quarter valued at $51,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Artisan Partners Asset Management by 31.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,465 shares of the asset manager’s stock worth $65,000 after acquiring an additional 350 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

(Get Free Report)

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.

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Earnings History for Artisan Partners Asset Management (NYSE:APAM)

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