Artisan Partners Asset Management (NYSE:APAM) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Artisan Partners beat quarterly expectations: The asset manager reported EPS of $1.03, exceeding the $0.96 consensus estimate by $0.07, while revenue of $312.5 million topped forecasts of $307.6 million.
• Shares declined modestly to $33.27 during Tuesday trading, with the stock trading well below its 12-month high of $46.53 and carrying a market capitalization of approximately $2.70 billion.
• Analyst sentiment remains cautious: Recent price-target cuts and downgrades left APAM with a consensus “Reduce” rating and an average target price of $35.25; an executive also sold 7,000 shares.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) posted its earnings results on Tuesday. The asset manager reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.07, FiscalAI reports. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The firm had revenue of $312.50 million during the quarter, compared to analyst estimates of $307.60 million.

Artisan Partners Asset Management Stock Down 0.2%

Shares of NYSE APAM traded down $0.07 during mid-day trading on Tuesday, reaching $33.27. The company had a trading volume of 1,010,548 shares, compared to its average volume of 827,622. The stock has a fifty day moving average of $37.36 and a two-hundred day moving average of $38.52. 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 has a 12-month low of $30.86 and a 12-month high of $46.53. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.08 and a beta of 1.70.

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 11.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APAM. Royal Bank Of Canada reduced their price objective on Artisan Partners Asset Management from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. Evercore set a $34.00 target price on Artisan Partners Asset Management in a research note on Friday, October 9th. The Goldman Sachs Group decreased their target price on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Friday, October 2nd. Zacks Research lowered Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 13th. Finally, TD Cowen reduced their price objective on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a "hold" rating for the company in a research report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $35.25.

Artisan Partners Asset Management Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.