Artisan Partners Asset Management Inc (NYSE:APAM) Announces Quarterly Dividend of $0.60

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Artisan Partners Asset Management Inc (NYSE:APAM) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Investors of record on Friday, August 16th will be paid a dividend of 0.60 per share by the asset manager on Friday, August 30th. This represents a $2.40 dividend on an annualized basis and a yield of 8.78%. The ex-dividend date is Thursday, August 15th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.55.

Artisan Partners Asset Management has a dividend payout ratio of 77.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Artisan Partners Asset Management to earn $2.90 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 82.8%.

NYSE:APAM opened at $27.35 on Wednesday. Artisan Partners Asset Management has a twelve month low of $20.16 and a twelve month high of $33.90. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day simple moving average is $28.29. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, July 30th. The asset manager reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Artisan Partners Asset Management had a net margin of 18.40% and a return on equity of 169.94%. The company had revenue of $200.70 million during the quarter, compared to analyst estimates of $196.99 million. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities analysts forecast that Artisan Partners Asset Management will post 2.67 earnings per share for the current year.

Separately, Zacks Investment Research upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.75.

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.

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Dividend History for Artisan Partners Asset Management (NYSE:APAM)

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