Artisan Partners Asset Management Inc. (NYSE:APAM) posted its quarterly earnings results on Monday. The asset manager reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58, Bloomberg Earnings reports. The firm had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $194.25 million. Artisan Partners Asset Management had a net margin of 10.47% and a return on equity of 61.99%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share.
Artisan Partners Asset Management (APAM) traded up 1.99% during mid-day trading on Monday, hitting $33.25. 491,256 shares of the stock traded hands. The stock has a 50 day moving average price of $31.01 and a 200 day moving average price of $29.12. Artisan Partners Asset Management has a 12-month low of $24.48 and a 12-month high of $33.85. The firm has a market cap of $1.64 billion, a PE ratio of 20.91 and a beta of 1.73.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a $0.60 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 7.22%. Artisan Partners Asset Management’s dividend payout ratio is presently 151.90%.
Several research analysts recently issued reports on the stock. TheStreet raised shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $32.00 price target on shares of Artisan Partners Asset Management in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $32.00 price target on shares of Artisan Partners Asset Management in a report on Friday, July 14th. ValuEngine raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, BidaskClub raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.56.
About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.
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