Artisan Partners Asset Management (NYSE:APAM) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings data on Tuesday. The asset manager reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04), FiscalAI reports. The company had revenue of $303.00 million during the quarter, compared to analysts’ expectations of $306.05 million. Artisan Partners Asset Management had a net margin of 24.26% and a return on equity of 73.73%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS.

Artisan Partners Asset Management Stock Performance

NYSE APAM traded down $0.84 on Wednesday, reaching $36.99. The stock had a trading volume of 256,133 shares, compared to its average volume of 689,258. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. Artisan Partners Asset Management has a 12-month low of $34.99 and a 12-month high of $48.50. The business’s 50-day moving average price is $37.62 and its 200 day moving average price is $41.09. The stock has a market cap of $2.98 billion, a P/E ratio of 9.27 and a beta of 1.76.

Artisan Partners Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, May 15th. This represents a $3.08 annualized dividend and a yield of 8.3%. Artisan Partners Asset Management’s payout ratio is presently 100.75%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Artisan Partners Asset Management in the fourth quarter valued at approximately $237,000. Invesco Ltd. lifted its stake in Artisan Partners Asset Management by 10.4% in the fourth quarter. Invesco Ltd. now owns 468,800 shares of the asset manager’s stock valued at $19,099,000 after buying an additional 44,316 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Artisan Partners Asset Management by 170.8% in the fourth quarter. Corient Private Wealth LLC now owns 16,219 shares of the asset manager’s stock valued at $661,000 after buying an additional 10,230 shares during the last quarter. Vident Advisory LLC lifted its stake in Artisan Partners Asset Management by 3.3% in the fourth quarter. Vident Advisory LLC now owns 22,593 shares of the asset manager’s stock valued at $920,000 after buying an additional 728 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in Artisan Partners Asset Management in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Wall Street Analysts Forecast Growth

APAM has been the subject of several recent analyst reports. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a research note on Thursday, April 9th. Wall Street Zen cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings cut Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Zacks Research cut Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Evercore set a $37.00 target price on Artisan Partners Asset Management in a research note on Friday, April 10th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $40.20.

About Artisan Partners Asset Management

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.