Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. TD Cowen boosted their price target on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.
Check Out Our Latest Stock Report on Artisan Partners Asset Management
Artisan Partners Asset Management Stock Performance
The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.34 and a beta of 1.81. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $40.99 and its 200-day moving average is $42.67.
Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company had revenue of $270.80 million for the quarter, compared to analyst estimates of $274.70 million. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current fiscal year.
Artisan Partners Asset Management Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. This represents a $2.84 annualized dividend and a yield of 7.02%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 86.59%.
Institutional Trading of Artisan Partners Asset Management
Several hedge funds and other institutional investors have recently made changes to their positions in APAM. Vaughan Nelson Investment Management L.P. grew its stake in shares of Artisan Partners Asset Management by 42.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager’s stock worth $60,965,000 after purchasing an additional 397,424 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Artisan Partners Asset Management by 25.2% during the 4th quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager’s stock worth $69,860,000 after buying an additional 318,355 shares during the period. Millennium Management LLC bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $10,685,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $9,907,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Artisan Partners Asset Management by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after acquiring an additional 160,297 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors.
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.
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