Artisan Partners Asset Management (NYSE:APAM) Announces Earnings Results, Beats Estimates By $0.02 EPS

Artisan Partners Asset Management (NYSE:APAM) posted its quarterly earnings results on Tuesday. The asset manager reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02, Briefing.com reports. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis.

Artisan Partners Asset Management Stock Up 3.7 %

Shares of NYSE APAM traded up $1.59 on Wednesday, hitting $45.15. The company had a trading volume of 684,483 shares, compared to its average volume of 445,577. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. Artisan Partners Asset Management has a 12-month low of $32.32 and a 12-month high of $47.08. The firm has a market capitalization of $3.63 billion, a P/E ratio of 13.77 and a beta of 1.79. The business has a 50 day moving average of $42.48 and a two-hundred day moving average of $42.22.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s payout ratio is 86.59%.

Wall Street Analyst Weigh In

APAM has been the subject of several research reports. The Goldman Sachs Group cut their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. TD Cowen lifted their price objective on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.83.

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.