Artisan Partners Asset Management (NYSE:APAM) Posts Earnings Results, Misses Expectations By $0.03 EPS

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings results on Tuesday. The asset manager reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03), Briefing.com reports. Artisan Partners Asset Management had a net margin of 22.80% and a return on equity of 73.85%. The business had revenue of $264.40 million during the quarter, compared to analyst estimates of $270.90 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis.

Artisan Partners Asset Management Stock Down 4.5 %

Shares of NYSE APAM traded down $1.94 during trading on Wednesday, hitting $41.49. 285,183 shares of the company traded hands, compared to its average volume of 477,612. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.64. Artisan Partners Asset Management has a fifty-two week low of $31.27 and a fifty-two week high of $46.75. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 13.04 and a beta of 1.85. The business’s fifty day moving average is $43.65 and its 200 day moving average is $40.95.

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $1.02 per share. The ex-dividend date was Wednesday, February 14th. This represents a dividend yield of 5.5%. This is a positive change from Artisan Partners Asset Management’s previous None dividend of $0.65. Artisan Partners Asset Management’s dividend payout ratio is currently 86.08%.

Insider Buying and Selling

In related news, EVP Gregory K. Ramirez sold 2,500 shares of the company’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 sale, the executive vice president now owns 83,335 shares in the company, valued at approximately $3,523,403.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.