Artisan Partners Asset Management (APAM) Announces Quarterly Results
Artisan Partners Asset Management (NASDAQ:APAM) issued its quarterly earnings data on Monday. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.02, Analyst Ratings News reports. The company had revenue of $208.50 million for the quarter, compared to the consensus estimate of $211.40 million. The company’s quarterly revenue was up 28.7% on a year-over-year basis.
APAM has been the subject of a number of recent research reports. Analysts at BMO Capital Markets cut their price target on shares of Artisan Partners Asset Management from $58.00 to $57.00 in a research note on Tuesday, July 15th. On the ratings front, analysts at Keefe, Bruyette & Woods downgraded shares of Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. They now have a $59.00 price target on the stock, down previously from $69.00. Finally, analysts at Citigroup Inc. downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $67.97.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) traded up 1.32% during mid-day trading on Monday, hitting $54.38. The stock had a trading volume of 389,800 shares. Artisan Partners Asset Management has a 1-year low of $46.02 and a 1-year high of $71.86. The stock has a 50-day moving average of $55.64 and a 200-day moving average of $60.13. The company’s market cap is $1.584 billion.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, August 13th.
Artisan Partners Asset Management Inc, is an independent investment management company that provides a range of 12 equity investment strategies spanning different market capitalization segments and investing styles in both United States and non-United States markets.
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