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

Artisan Partners Asset Management (NYSE:APAM) announced its earnings results on Tuesday. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03), Briefing.com reports. The firm had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. Artisan Partners Asset Management had a net margin of 22.80% and a return on equity of 73.85%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS.

Artisan Partners Asset Management Stock Down 4.5 %

Artisan Partners Asset Management stock traded down $1.94 during midday trading on Wednesday, hitting $41.49. 285,183 shares of the company’s stock were exchanged, compared to its average volume of 477,612. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.64. Artisan Partners Asset Management has a 12 month low of $31.27 and a 12 month high of $46.75. The firm has a 50-day moving average of $43.65 and a two-hundred day moving average of $40.95. The company has a market cap of $3.31 billion, a PE ratio of 13.04 and a beta of 1.85.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a dividend of $1.02 per share. This represents a yield of 5.5%. This is a boost from Artisan Partners Asset Management’s previous None dividend of $0.65. The ex-dividend date was Wednesday, February 14th. Artisan Partners Asset Management’s dividend payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

Several research firms recently commented on APAM. TD Cowen began 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 on the stock. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th.

Insiders Place Their Bets

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

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.