Artisan Partners Asset Management (NYSE:APAM) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings results on Wednesday. The asset manager reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03), Briefing.com reports. The company had revenue of $264.40 million during the quarter, compared to analyst estimates of $270.90 million. Artisan Partners Asset Management had a net margin of 22.80% and a return on equity of 73.85%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS.

Artisan Partners Asset Management Stock Down 5.4 %

APAM stock traded down $2.35 during midday trading on Wednesday, reaching $41.08. 208,959 shares of the company’s stock traded hands, compared to its average volume of 476,703. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 13.04 and a beta of 1.85. The firm’s fifty day moving average price is $43.65 and its 200-day moving average price is $40.95. Artisan Partners Asset Management has a 52 week low of $31.27 and a 52 week high of $46.75.

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a dividend of $1.02 per share. This represents a yield of 5.5%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a positive change from Artisan Partners Asset Management’s previous None dividend of $0.65. Artisan Partners Asset Management’s payout ratio is 86.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APAM shares. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. TD Cowen initiated coverage on shares of Artisan Partners Asset Management in a research note on Thursday, January 4th. They issued a “market perform” rating and a $41.00 price target on the stock.

Insiders Place Their Bets

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of Artisan Partners Asset Management stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $42.28, for a total transaction of $105,700.00. Following the transaction, the executive vice president now directly owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.50% of the company’s stock.

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.