Artisan Partners Asset Management (NYSE:APAM) Issues Quarterly Earnings Results

Artisan Partners Asset Management (NYSE:APAM) posted its earnings results on Tuesday. The asset manager reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02, Briefing.com reports. The firm had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share.

Artisan Partners Asset Management Stock Performance

Shares of Artisan Partners Asset Management stock opened at $45.15 on Thursday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 13.77 and a beta of 1.79. The stock’s 50-day moving average is $42.48 and its 200-day moving average is $42.22. Artisan Partners Asset Management has a one year low of $32.32 and a one year high of $47.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.82 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.26%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 86.59%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APAM shares. TD Cowen lifted their target price on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, The Goldman Sachs Group reduced their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.83.

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.