Artisan Partners Asset Management (APAM) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Artisan Partners Asset Management (NYSE:APAM) announced its quarterly earnings data on Tuesday. The asset manager reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03, MarketWatch Earnings reports. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $212.17 million. Artisan Partners Asset Management had a return on equity of 181.69% and a net margin of 10.30%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS.

Artisan Partners Asset Management stock traded down $0.13 during mid-day trading on Wednesday, hitting $28.40. The company’s stock had a trading volume of 139,971 shares, compared to its average volume of 408,324. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.75. Artisan Partners Asset Management has a 52-week low of $27.08 and a 52-week high of $41.45. The company has a market cap of $2.14 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.83 and a beta of 1.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 8.45%. The ex-dividend date is Thursday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 99.59%.

Several equities research analysts recently issued reports on APAM shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $34.00 price objective on shares of Artisan Partners Asset Management in a research note on Thursday, August 2nd. Zacks Investment Research raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, July 11th. ValuEngine downgraded Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Finally, Bank of America increased their price objective on Artisan Partners Asset Management from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Artisan Partners Asset Management has a consensus rating of “Hold” and a consensus target price of $37.25.

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

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