Artisan Partners Asset Management Inc. Announces Dividend of $0.82 (NYSE:APAM)

Artisan Partners Asset Management Inc. (NYSE:APAM) announced a dividend on Tuesday, October 29th, NASDAQ reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.82 per share by the asset manager on Friday, November 29th. The ex-dividend date of this dividend is Friday, November 15th.

Artisan Partners Asset Management has decreased its dividend by an average of 6.1% annually over the last three years. Artisan Partners Asset Management has a dividend payout ratio of 75.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Artisan Partners Asset Management to earn $3.51 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 80.9%.

Artisan Partners Asset Management Trading Up 3.7 %

APAM stock traded up $1.59 during midday trading on Wednesday, reaching $45.15. The company’s stock had a trading volume of 684,483 shares, compared to its average volume of 445,577. Artisan Partners Asset Management has a 52 week low of $32.32 and a 52 week high of $47.08. The stock has a market cap of $3.63 billion, a PE ratio of 13.77 and a beta of 1.79. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $42.48 and its 200-day simple moving average is $42.22.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts expect that Artisan Partners Asset Management will post 3.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. TD Cowen raised their price objective on shares of 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, The Goldman Sachs Group dropped their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.83.

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.