Artisan Partners Asset Management Inc (NYSE:APAM) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Stockholders of record on Friday, November 16th will be paid a dividend of 0.60 per share by the asset manager on Friday, November 30th. This represents a $2.40 annualized dividend and a dividend yield of 9.69%. The ex-dividend date of this dividend is Thursday, November 15th.
Artisan Partners Asset Management has raised its dividend payment by an average of 2.9% per year over the last three years. Artisan Partners Asset Management has a payout ratio of 77.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Artisan Partners Asset Management to earn $2.89 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 83.0%.
Shares of Artisan Partners Asset Management stock traded down $0.65 during trading on Thursday, reaching $24.77. The company’s stock had a trading volume of 424,700 shares, compared to its average volume of 349,266. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.91 and a beta of 1.69. Artisan Partners Asset Management has a fifty-two week low of $24.11 and a fifty-two week high of $41.45. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.68 and a quick ratio of 0.68.
Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 30th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Artisan Partners Asset Management had a net margin of 11.60% and a return on equity of 199.82%. The company had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same period in the previous year, the company posted $0.65 EPS. Artisan Partners Asset Management’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Artisan Partners Asset Management will post 3.03 earnings per share for the current year.
A number of equities analysts have recently weighed in on APAM shares. Royal Bank of Canada set a $34.00 price target on shares of Artisan Partners Asset Management and gave the stock a “buy” rating in a research note on Thursday, November 1st. Citigroup decreased their price objective on shares of Artisan Partners Asset Management from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, November 1st. Zacks Investment Research lowered shares of Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine lowered shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.80.
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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