Artisan Partners Asset Management (NYSE:APAM) Releases Earnings Results, Beats Estimates By $0.02 EPS

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) released its earnings results on Tuesday. The asset manager reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02, Briefing.com reports. The company had revenue of $279.60 million during the quarter, compared to analysts' expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS.

Artisan Partners Asset Management Price Performance

Shares of APAM traded up $1.59 during trading hours on Wednesday, reaching $45.15. 684,483 shares of the stock traded hands, 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 company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.63 billion, a P/E ratio of 13.77 and a beta of 1.79. The company's 50-day moving average price is $42.48 and its two-hundred day moving average price is $42.22.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management's payout ratio is currently 86.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on APAM shares. Royal Bank of Canada reissued an "outperform" rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. The Goldman Sachs Group reduced their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating for the company in a report on Thursday, October 3rd. TD Cowen lifted their price target on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.