Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) – Analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share estimates for Artisan Partners Asset Management in a research report issued on Tuesday, January 31st. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.58. The consensus estimate for Artisan Partners Asset Management's current full-year earnings is $2.56 per share. Jefferies Financial Group also issued estimates for Artisan Partners Asset Management's Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.69 EPS, Q4 2023 earnings at $0.71 EPS, FY2023 earnings at $2.62 EPS and FY2024 earnings at $2.86 EPS.
Get Artisan Partners Asset Management alerts:Artisan Partners Asset Management (NYSE:APAM – Get Rating) last issued its earnings results on Wednesday, February 1st. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Artisan Partners Asset Management had a return on equity of 99.80% and a net margin of 20.82%. The firm had revenue of $226.00 million for the quarter, compared to analysts' expectations of $222.60 million. During the same period in the previous year, the firm posted $1.29 earnings per share. The business's revenue was down 28.3% compared to the same quarter last year.
Several other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lifted 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. StockNews.com began coverage on Artisan Partners Asset Management in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. TheStreet cut Artisan Partners Asset Management from a "b-" rating to a "c+" rating in a research note on Wednesday, October 19th. Credit Suisse Group boosted their price objective on Artisan Partners Asset Management from $29.50 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.75.Artisan Partners Asset Management Trading Down 1.5 %
Shares of APAM stock opened at $37.47 on Friday. Artisan Partners Asset Management has a 12-month low of $25.67 and a 12-month high of $43.67. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.78. The stock's 50-day moving average price is $33.57 and its 200-day moving average price is $32.97. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 12.79 and a beta of 1.83.
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 a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.56. The ex-dividend date is Monday, February 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 9.61%. Artisan Partners Asset Management's dividend payout ratio is currently 75.09%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. bought a new position in shares of Artisan Partners Asset Management during the fourth quarter valued at approximately $206,000. Fisher Asset Management LLC boosted its holdings in shares of Artisan Partners Asset Management by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,850,500 shares of the asset manager's stock valued at $54,960,000 after purchasing an additional 25,877 shares during the period. ProShare Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $230,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Artisan Partners Asset Management by 37.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,453 shares of the asset manager's stock valued at $310,000 after purchasing an additional 2,840 shares during the period. Finally, Red Tortoise LLC purchased a new stake in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $28,000. Institutional investors own 82.53% of the company's stock.
Artisan Partners Asset Management Company Profile
(Get Rating)
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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