Artisan Partners Asset Management Inc. (NYSE:APAM) Raises Dividend to $0.88 Per Share

Artisan Partners Asset Management Inc. (NYSE:APAM) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 16th will be given a dividend of $0.88 per share by the asset manager on Monday, November 30th. This represents a $3.52 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Monday, November 16th. This is a 10.0% increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.80.

Artisan Partners Asset Management has a dividend payout ratio of 94.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Artisan Partners Asset Management to earn $3.53 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 90.7%.

Artisan Partners Asset Management Stock Performance

Shares of NYSE APAM traded up $1.42 during midday trading on Wednesday, hitting $34.62. 1,688,852 shares of the company’s stock traded hands, compared to its average volume of 833,578. The firm has a fifty day moving average of $37.19 and a 200 day moving average of $38.47. Artisan Partners Asset Management has a 1 year low of $30.86 and a 1 year high of $46.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 8.40 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, October 27th. The asset manager reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The company had revenue of $312.50 million for the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. On average, analysts forecast that Artisan Partners Asset Management will post 3.79 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research cut Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Evercore set a $34.00 price target on shares of Artisan Partners Asset Management in a research report on Friday, October 9th. The Goldman Sachs Group reduced their price objective on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Friday, October 2nd. Royal Bank Of Canada reduced their price objective on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Finally, TD Cowen lowered their target price on Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating for the company in a report on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Artisan Partners Asset Management has an average rating of “Reduce” and a consensus target price of $35.25.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.