Artisan Partners Asset Management (NYSE:APAM) Announces Earnings Results, Beats Estimates By $0.07 EPS

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings results on Tuesday. The asset manager reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07, FiscalAI reports. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%. The company had revenue of $312.50 million during the quarter, compared to analysts’ expectations of $307.60 million.

Artisan Partners Asset Management Price Performance

NYSE APAM traded down $0.07 during mid-day trading on Tuesday, hitting $33.27. The stock had a trading volume of 1,010,559 shares, compared to its average volume of 829,426. The firm’s 50 day moving average is $37.36 and its 200 day moving average is $38.52. Artisan Partners Asset Management has a twelve month low of $30.86 and a twelve month high of $46.53. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.08 and a beta of 1.70.

Analyst Upgrades and Downgrades

APAM has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. Evercore set a $34.00 price objective on shares of Artisan Partners Asset Management in a research report on Friday, October 9th. Zacks Research cut shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. TD Cowen reduced their price target on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Finally, Royal Bank Of Canada decreased their price target on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $35.25.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of Artisan Partners Asset Management stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total transaction of $298,130.00. Following the sale, the executive vice president owned 109,194 shares of the company’s stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.30% of the stock is currently owned by company insiders.

About Artisan Partners Asset Management

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.