Artisan Partners Asset Management Inc. (NYSE:APAM) Raises Dividend to $0.88 Per Share

Key Points

• Artisan Partners Asset Management raised its quarterly dividend 10% to $0.88 per share, payable November 30 to shareholders of record November 16. The annualized dividend is $3.52, representing a 10.2% yield.
• The dividend is covered by earnings but carries a high payout ratio of 94.4%; analysts expect next year’s payout ratio to remain elevated at approximately 90.7%.
• The company reported quarterly earnings of $1.03 per share, beating estimates of $0.96, while revenue of $312.5 million exceeded forecasts and increased 3.7% year over year.

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 16th will be given a dividend of $0.88 per share by the asset manager on Monday, November 30th. This represents a $3.52 annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Monday, November 16th. This is a 10.0% increase from Artisan Partners Asset Management's previous quarterly dividend of $0.80.

Artisan Partners Asset Management has a payout ratio of 94.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect Artisan Partners Asset Management to earn $3.53 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 90.7%.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded up $1.42 during trading on Wednesday, reaching $34.62. The company had a trading volume of 1,688,852 shares, compared to its average volume of 833,578. The business's 50 day moving average price is $37.19 and its 200-day moving average price is $38.47. The stock has a market cap of $2.81 billion, a PE ratio of 8.40 and a beta of 1.70. Artisan Partners Asset Management has a 52 week low of $30.86 and a 52 week high of $46.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 0.90.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The asset manager reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.07. The company had revenue of $312.50 million for the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 EPS. Analysts expect that Artisan Partners Asset Management will post 3.79 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the completion of the transaction, the executive vice president directly owned 109,194 shares in the company, valued at $4,650,572.46. This trade represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC purchased a new stake in shares of Artisan Partners Asset Management during the third quarter valued at approximately $212,000. Provident Investment Management Inc. boosted its stake in Artisan Partners Asset Management by 17.6% during the 3rd quarter. Provident Investment Management Inc. now owns 28,085 shares of the asset manager's stock valued at $1,014,000 after purchasing an additional 4,210 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Artisan Partners Asset Management by 1.8% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 57,579 shares of the asset manager's stock worth $2,080,000 after purchasing an additional 1,002 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Artisan Partners Asset Management by 169.6% in the 3rd quarter. Sterling Capital Management LLC now owns 1,793 shares of the asset manager's stock worth $65,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Artisan Partners Asset Management by 0.3% in the third quarter. Isthmus Partners LLC now owns 95,118 shares of the asset manager's stock worth $3,436,000 after purchasing an additional 326 shares during the last quarter. Institutional investors own 86.45% of the company's stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.

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