Artisan Partners Asset Management Inc (APAM) to Issue Quarterly Dividend of $0.60 on August 30th

Artisan Partners Asset Management Inc (NYSE:APAM) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.60 per share by the asset manager on Friday, August 30th. This represents a $2.40 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.55.

Artisan Partners Asset Management has a dividend payout ratio of 77.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Artisan Partners Asset Management to earn $2.90 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 82.8%.

Shares of NYSE APAM traded up $0.49 during midday trading on Tuesday, hitting $27.39. 70,898 shares of the company’s stock traded hands, compared to its average volume of 365,691. Artisan Partners Asset Management has a 1 year low of $20.16 and a 1 year high of $34.40. The stock has a market capitalization of $2.16 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average price of $28.28.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Artisan Partners Asset Management had a net margin of 18.40% and a return on equity of 169.94%. The firm had revenue of $200.70 million during the quarter, compared to analyst estimates of $196.99 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts predict that Artisan Partners Asset Management will post 2.67 EPS for the current year.

Several equities research analysts have recently commented on the stock. Citigroup raised shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price target for the company in a research report on Monday, April 15th. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, July 10th. Finally, TheStreet raised shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.75.

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.

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Dividend History for Artisan Partners Asset Management (NYSE:APAM)

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