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

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

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $41.02 on Friday. The company has a 50-day moving average of $43.72 and a two-hundred day moving average of $41.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.55 and a quick ratio of 0.64. Artisan Partners Asset Management has a one year low of $31.27 and a one year high of $46.75. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 12.51 and a beta of 1.85.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.61 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.44 annualized dividend and a yield of 5.95%. Artisan Partners Asset Management’s payout ratio is presently 82.93%.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. TD Cowen initiated coverage on Artisan Partners Asset Management in a research report on Thursday, January 4th. They set a “market perform” rating and a $41.00 price objective for the company.

Artisan Partners Asset Management Company Profile

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.