Artisan Partners Asset Management Inc (NYSE:APAM) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Monday, August 17th will be given a dividend of 0.67 per share by the asset manager on Monday, August 31st. This represents a $2.68 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.61.
Artisan Partners Asset Management has decreased its dividend by an average of 1.7% per year over the last three years. Artisan Partners Asset Management has a payout ratio of 102.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Artisan Partners Asset Management to earn $3.02 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 80.8%.
Shares of Artisan Partners Asset Management stock traded down $0.07 on Thursday, reaching $35.41. The company’s stock had a trading volume of 3,298 shares, compared to its average volume of 416,823. Artisan Partners Asset Management has a 52 week low of $17.69 and a 52 week high of $38.09. The firm’s fifty day simple moving average is $32.53 and its two-hundred day simple moving average is $29.36. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.12 and a beta of 2.03.
Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a return on equity of 178.20% and a net margin of 20.41%. The company had revenue of $203.00 million during the quarter, compared to the consensus estimate of $192.01 million. During the same period last year, the company earned $0.67 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts predict that Artisan Partners Asset Management will post 2.74 EPS for the current year.
Several research firms have recently weighed in on APAM. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a report on Monday, June 29th. Citigroup lifted their target price on shares of Artisan Partners Asset Management from $41.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods raised Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and increased their price target for the company from $25.00 to $34.00 in a report on Thursday, April 30th. ValuEngine downgraded Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, TheStreet upgraded Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $38.20.
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.
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