Artisan Partners Asset Management (NYSE:APAM) Stock Price Down 5% Following Weak Earnings

Artisan Partners Asset Management Inc. (NYSE:APAM)’s stock price was down 5% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $41.11 and last traded at $41.25. Approximately 77,984 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 474,798 shares. The stock had previously closed at $43.43.

The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Artisan Partners Asset Management had a net margin of 22.80% and a return on equity of 73.85%. The company had revenue of $264.40 million during the quarter, compared to analyst estimates of $270.90 million. During the same quarter last year, the business posted $0.64 EPS. Artisan Partners Asset Management’s quarterly revenue was up 12.8% compared to the same quarter last year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $1.02 dividend. The ex-dividend date was Wednesday, February 14th. This represents a dividend yield of 5.5%. This is a positive change from Artisan Partners Asset Management’s previous None dividend of $0.65. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 86.08%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $42.28, for a total transaction of $105,700.00. Following the transaction, the executive vice president now owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 18.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Private Trust Co. NA lifted its holdings in Artisan Partners Asset Management by 458.3% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the asset manager’s stock worth $25,000 after buying an additional 550 shares during the last quarter. Mather Group LLC. bought a new position in Artisan Partners Asset Management during the 1st quarter worth approximately $26,000. Allworth Financial LP lifted its holdings in Artisan Partners Asset Management by 716.0% during the 4th quarter. Allworth Financial LP now owns 612 shares of the asset manager’s stock worth $27,000 after buying an additional 537 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Artisan Partners Asset Management by 70.3% in the 4th quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock worth $28,000 after purchasing an additional 265 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Artisan Partners Asset Management in the 4th quarter worth approximately $31,000. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Trading Down 5.1 %

The firm has a market cap of $3.29 billion, a P/E ratio of 13.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a fifty day moving average of $43.65 and a 200-day moving average of $40.95.

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.