Artisan Partners Asset Management Inc. (NYSE:APAM) Declares $0.61 Quarterly Dividend

Artisan Partners Asset Management Inc. (NYSE:APAM) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.61 per share by the asset manager on Friday, May 31st. This represents a $2.44 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Thursday, May 16th.

Artisan Partners Asset Management has decreased its dividend by an average of 6.1% per year over the last three years. Artisan Partners Asset Management has a dividend payout ratio of 73.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Artisan Partners Asset Management to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 76.4%.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded down $1.60 during midday trading on Thursday, reaching $40.60. The stock had a trading volume of 37,752 shares, compared to its average volume of 476,199. The stock has a 50-day moving average of $43.70 and a 200-day moving average of $41.00. Artisan Partners Asset Management has a 12-month low of $31.27 and a 12-month high of $46.75. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.64.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Wednesday, April 24th. The asset manager reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The business had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $270.90 million. Artisan Partners Asset Management had a return on equity of 74.25% and a net margin of 22.99%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, research analysts anticipate that Artisan Partners Asset Management will post 3.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Gregory K. Ramirez sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $42.28, for a total value of $105,700.00. Following the transaction, the executive vice president now owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Artisan Partners Asset Management Company Profile

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.