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

Artisan Partners Asset Management (NYSE:APAM) posted its earnings results on Wednesday. The asset manager reported $0.76 EPS for the quarter, missing the consensus estimate 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 company had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $41.02 on Friday. The company has a 50 day moving average price of $43.72 and a 200-day moving average price of $41.01. Artisan Partners Asset Management has a 52 week low of $31.27 and a 52 week high of $46.75. The firm has a market capitalization of $3.28 billion, a PE ratio of 12.51 and a beta of 1.85. The company has a quick ratio of 0.64, a current ratio of 0.55 and a debt-to-equity ratio of 0.56.

Artisan Partners Asset Management Cuts Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Artisan Partners Asset Management in a research note on Thursday, January 4th. They issued a “market perform” rating and a $41.00 price target for the company. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th.

Insider Transactions at Artisan Partners Asset Management

In related news, EVP Gregory K. Ramirez sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were 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 $3,523,403.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 18.50% of the company’s stock.

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.