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

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

Artisan Partners Asset Management Stock Performance

Shares of APAM stock traded down $2.63 on Wednesday, reaching $40.80. The stock had a trading volume of 173,651 shares, compared to its average volume of 475,961. The stock has a market cap of $3.26 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 company has a 50 day simple moving average of $43.65 and a 200 day simple moving average of $40.95. Artisan Partners Asset Management has a 1 year low of $31.27 and a 1 year high of $46.75.

Artisan Partners Asset Management Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APAM. TD Cowen started coverage on Artisan Partners Asset Management in a research report on Thursday, January 4th. They issued a “market perform” rating and a $41.00 target price for the company. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Sunday, March 17th.

Insider Activity at Artisan Partners Asset Management

In other news, EVP Gregory K. Ramirez sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $42.28, for a total value of $105,700.00. Following the transaction, the executive vice president now directly owns 83,335 shares in the company, valued at $3,523,403.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.50% of the stock is owned by company insiders.

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.