Artisan Partners Asset Management (NYSE:APAM – Get Rating) released its earnings results on Wednesday. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.03, Briefing.com reports. The firm had revenue of $226.00 million during the quarter, compared to analysts' expectations of $222.60 million. Artisan Partners Asset Management had a return on equity of 99.80% and a net margin of 20.82%. The company's revenue was down 28.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS.
Artisan Partners Asset Management Stock Performance
APAM traded down $0.08 during trading hours on Friday, reaching $37.95. The company's stock had a trading volume of 10,460 shares, compared to its average volume of 463,881. Artisan Partners Asset Management has a 52 week low of $25.67 and a 52 week high of $43.67. The company's 50-day moving average is $33.49 and its 200-day moving average is $32.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $3.02 billion, a PE ratio of 12.98 and a beta of 1.83.
Get Artisan Partners Asset Management alerts:Artisan Partners Asset Management Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th will be paid a dividend of $0.90 per share. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.56. This represents a $3.60 annualized dividend and a dividend yield of 9.49%. The ex-dividend date is Monday, February 13th. Artisan Partners Asset Management's payout ratio is currently 76.45%.
Institutional Investors Weigh In On Artisan Partners Asset Management
A number of large investors have recently added to or reduced their stakes in APAM. Acadian Asset Management LLC acquired a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth about $26,000. Eagle Bay Advisors LLC acquired a new stake in Artisan Partners Asset Management during the second quarter worth approximately $29,000. Geneos Wealth Management Inc. lifted its position in Artisan Partners Asset Management by 95.3% during the first quarter. Geneos Wealth Management Inc. now owns 840 shares of the asset manager's stock worth $33,000 after acquiring an additional 410 shares during the last quarter. Lazard Asset Management LLC lifted its position in Artisan Partners Asset Management by 267.2% during the first quarter. Lazard Asset Management LLC now owns 929 shares of the asset manager's stock worth $36,000 after acquiring an additional 676 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Artisan Partners Asset Management in the 2nd quarter valued at $227,000. Institutional investors own 82.53% of the company's stock.Wall Street Analyst Weigh In
A number of equities analysts have issued reports on APAM shares. StockNews.com began coverage on Artisan Partners Asset Management in a report on Wednesday, October 12th. They set a "hold" rating for the company. TheStreet lowered shares of Artisan Partners Asset Management from a "b-" rating to a "c+" rating in a research report on Wednesday, October 19th. Royal Bank of Canada increased their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on Artisan Partners Asset Management from $35.00 to $37.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Credit Suisse Group raised their price target on Artisan Partners Asset Management from $29.50 to $30.00 and gave the company a "neutral" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Artisan Partners Asset Management has a consensus rating of "Hold" and an average target price of $34.75.
About Artisan Partners Asset Management
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Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.
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