Artisan Partners Asset Management Inc. (NYSE:APAM) to Issue Quarterly Dividend of $0.61

Artisan Partners Asset Management Inc. (NYSE:APAM) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.61 per share by the asset manager on Friday, May 31st. This represents a $2.44 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Thursday, May 16th.

Artisan Partners Asset Management has decreased its dividend by an average of 6.1% per year over the last three years. Artisan Partners Asset Management has a payout ratio of 73.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Artisan Partners Asset Management to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 76.4%.

Artisan Partners Asset Management Trading Down 3.2 %

NYSE APAM traded down $1.36 during trading hours on Thursday, reaching $40.84. The company had a trading volume of 89,560 shares, compared to its average volume of 476,599. The stock has a 50-day moving average of $43.70 and a 200 day moving average of $41.00. Artisan Partners Asset Management has a 1-year low of $31.27 and a 1-year high of $46.75. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.26 billion, a P/E ratio of 12.87 and a beta of 1.85.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The business had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $270.90 million. Artisan Partners Asset Management had a return on equity of 74.25% and a net margin of 22.99%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, research analysts anticipate that Artisan Partners Asset Management will post 3.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APAM. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. TD Cowen began coverage on shares of Artisan Partners Asset Management in a research note on Thursday, January 4th. They set a “market perform” rating and a $41.00 price target on the stock.

Insider Buying and Selling

In related news, EVP Gregory K. Ramirez sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $42.28, for a total transaction of $105,700.00. Following the sale, the executive vice president now directly owns 83,335 shares in the company, valued at $3,523,403.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.50% of the company’s stock.

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.