Artisan Partners Asset Management Inc. Expected to Earn Q1 2023 Earnings of $0.60 Per Share (NYSE:APAM)

Artisan Partners Asset Management Inc. (NYSE:APAMGet Rating) – Research analysts at Jefferies Financial Group lowered their Q1 2023 earnings per share (EPS) estimates for Artisan Partners Asset Management in a note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will post earnings of $0.60 per share for the quarter, down from their previous forecast of $0.65. The consensus estimate for Artisan Partners Asset Management’s current full-year earnings is $3.38 per share. Jefferies Financial Group also issued estimates for Artisan Partners Asset Management’s Q2 2023 earnings at $0.71 EPS, Q3 2023 earnings at $0.74 EPS, Q4 2023 earnings at $0.76 EPS, FY2023 earnings at $2.80 EPS, Q1 2024 earnings at $0.74 EPS, Q2 2024 earnings at $0.79 EPS and FY2024 earnings at $3.19 EPS.

Several other analysts have also issued reports on APAM. StockNews.com lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. The Goldman Sachs Group cut their target price on shares of Artisan Partners Asset Management from $33.50 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Citigroup cut their target price on shares of Artisan Partners Asset Management from $41.50 to $36.50 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Artisan Partners Asset Management from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.10.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $37.28 on Thursday. The company has a 50 day moving average price of $37.06 and a 200-day moving average price of $37.64. Artisan Partners Asset Management has a 52 week low of $32.07 and a 52 week high of $53.29. The firm has a market capitalization of $2.94 billion, a PE ratio of 9.16 and a beta of 1.71. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.79.

Artisan Partners Asset Management (NYSE:APAMGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). Artisan Partners Asset Management had a return on equity of 128.02% and a net margin of 24.10%. During the same quarter in the prior year, the business earned $1.28 earnings per share.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several large investors have recently added to or reduced their stakes in the company. Keystone Financial Group lifted its holdings in Artisan Partners Asset Management by 4.5% during the second quarter. Keystone Financial Group now owns 20,934 shares of the asset manager’s stock valued at $745,000 after purchasing an additional 900 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Artisan Partners Asset Management by 32.7% in the second quarter. Royce & Associates LP now owns 894,818 shares of the asset manager’s stock worth $31,829,000 after buying an additional 220,505 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Artisan Partners Asset Management by 21.2% in the second quarter. Vestmark Advisory Solutions Inc. now owns 33,423 shares of the asset manager’s stock worth $1,189,000 after buying an additional 5,850 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Artisan Partners Asset Management by 42.9% in the second quarter. Nisa Investment Advisors LLC now owns 23,980 shares of the asset manager’s stock worth $853,000 after buying an additional 7,200 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new position in shares of Artisan Partners Asset Management in the second quarter worth $27,000. Hedge funds and other institutional investors own 66.91% of the company’s stock.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend is Tuesday, August 16th. Artisan Partners Asset Management’s dividend payout ratio is currently 74.69%.

About Artisan Partners Asset Management

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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.

Further Reading

Earnings History and Estimates for Artisan Partners Asset Management (NYSE:APAM)

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