Artisan Partners Asset Management (NYSE:APAM) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Artisan Partners Asset Management reported earnings of $0.83 EPS for the quarter, exceeding the consensus estimate of $0.80.
• The company has announced a quarterly dividend of $0.68 per share, yielding 5.93%, while having a dividend payout ratio of 75.14%.
• Institutional investors hold 86.45% of Artisan Partners' stock, with notable increases in holdings from several large firms in the first quarter.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) released its quarterly earnings data on Tuesday. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01, Zacks reports. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. During the same period last year, the company earned $0.82 earnings per share. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded down $0.44 during trading hours on Tuesday, reaching $45.90. 478,212 shares of the stock traded hands, compared to its average volume of 581,008. The company's 50-day simple moving average is $43.75 and its two-hundred day simple moving average is $41.77. Artisan Partners Asset Management has a 52-week low of $32.75 and a 52-week high of $49.54. The company has a market capitalization of $3.70 billion, a P/E ratio of 12.68 and a beta of 1.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 5.93%. Artisan Partners Asset Management's dividend payout ratio is currently 75.14%.

Insider Transactions at Artisan Partners Asset Management

In related news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the sale, the chief financial officer owned 91,363 shares of the company's stock, valued at $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the sale, the executive vice president owned 40,529 shares in the company, valued at $1,793,002.96. This represents a 14.37% decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Artisan Partners Asset Management

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC raised its holdings in shares of Artisan Partners Asset Management by 46.8% in the 1st quarter. Intech Investment Management LLC now owns 30,184 shares of the asset manager's stock valued at $1,180,000 after purchasing an additional 9,629 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Artisan Partners Asset Management by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,479 shares of the asset manager's stock valued at $1,465,000 after purchasing an additional 1,626 shares during the period. AQR Capital Management LLC lifted its stake in Artisan Partners Asset Management by 6.4% during the 1st quarter. AQR Capital Management LLC now owns 69,357 shares of the asset manager's stock valued at $2,712,000 after acquiring an additional 4,177 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Artisan Partners Asset Management by 24.9% in the first quarter. Royal Bank of Canada now owns 138,628 shares of the asset manager's stock valued at $5,421,000 after purchasing an additional 27,676 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on APAM. Royal Bank Of Canada increased their target price on shares of Artisan Partners Asset Management from $44.00 to $50.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Evercore ISI reduced their price objective on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. TD Cowen decreased their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, TD Securities lifted their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.10.

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.