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

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings results on Wednesday. The asset manager reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03), Briefing.com reports. Artisan Partners Asset Management had a return on equity of 72.77% and a net margin of 22.99%. The business had revenue of $264.40 million for the quarter, compared to the consensus estimate of $270.90 million. During the same quarter in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis.

Artisan Partners Asset Management Trading Up 1.9 %

Shares of APAM traded up $0.80 on Friday, reaching $41.84. 95,288 shares of the company’s stock were exchanged, compared to its average volume of 478,200. Artisan Partners Asset Management has a 12 month low of $31.27 and a 12 month high of $46.75. The stock has a market capitalization of $3.34 billion, a P/E ratio of 12.75 and a beta of 1.85. The company has a current ratio of 0.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $43.72 and a two-hundred day moving average price of $41.01.

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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Thursday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is 82.93%.

Insiders Place Their Bets

In other news, EVP Gregory K. Ramirez sold 2,500 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $42.28, for a total value of $105,700.00. Following the transaction, the executive vice president now owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 18.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen started coverage on shares of Artisan Partners Asset Management in a report on Thursday, January 4th. They issued a “market perform” rating and a $41.00 target price on the stock. StockNews.com upgraded 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.