Brokerages Anticipate Artisan Partners Asset Management Inc (APAM) Will Post Quarterly Sales of $196.75 Million

Equities analysts expect Artisan Partners Asset Management Inc (NYSE:APAM) to post $196.75 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Artisan Partners Asset Management’s earnings, with the lowest sales estimate coming in at $196.00 million and the highest estimate coming in at $197.50 million. Artisan Partners Asset Management posted sales of $212.30 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.3%. The company is expected to announce its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $792.90 million for the current year, with estimates ranging from $792.60 million to $793.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $862.50 million, with estimates ranging from $850.20 million to $874.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, April 30th. The asset manager reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $187.00 million during the quarter, compared to the consensus estimate of $186.26 million. Artisan Partners Asset Management had a net margin of 18.48% and a return on equity of 172.79%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share.

Several analysts have issued reports on the stock. TheStreet raised shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research note on Monday, April 15th. Citigroup raised shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price objective for the company in a research note on Monday, April 15th. Bank of America set a $25.00 target price on shares of Artisan Partners Asset Management and gave the stock a “sell” rating in a research report on Tuesday, April 9th. ValuEngine raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Artisan Partners Asset Management has an average rating of “Hold” and an average target price of $29.60.

NYSE APAM traded up $0.66 during trading on Thursday, hitting $25.64. The stock had a trading volume of 440,600 shares, compared to its average volume of 489,252. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $2.00 billion, a P/E ratio of 8.72, a PEG ratio of 1.37 and a beta of 1.78. Artisan Partners Asset Management has a one year low of $20.16 and a one year high of $35.50.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date of this dividend is Thursday, May 16th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 74.83%.

In other news, insider Jason A. Gottlieb sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $26.18, for a total transaction of $261,800.00. Following the transaction, the insider now directly owns 101,710 shares of the company’s stock, valued at $2,662,767.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 24.44% of the company’s stock.

Several large investors have recently modified their holdings of APAM. One Wealth Advisors LLC purchased a new position in shares of Artisan Partners Asset Management during the first quarter worth approximately $61,000. Pearl River Capital LLC purchased a new position in Artisan Partners Asset Management during the fourth quarter valued at approximately $70,000. C M Bidwell & Associates Ltd. purchased a new position in Artisan Partners Asset Management during the first quarter valued at approximately $75,000. Meeder Asset Management Inc. increased its holdings in Artisan Partners Asset Management by 230.6% during the first quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock valued at $77,000 after buying an additional 2,138 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in Artisan Partners Asset Management by 65.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,469 shares of the asset manager’s stock valued at $112,000 after buying an additional 1,767 shares during the period. 63.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Artisan Partners Asset Management (NYSE:APAM)

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