Brokerages forecast that Artisan Partners Asset Management Inc. (NYSE:APAM) will announce sales of $193.45 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Artisan Partners Asset Management’s earnings. The highest sales estimate is $193.90 million and the lowest is $193.00 million. Artisan Partners Asset Management posted sales of $180.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7%. The company is scheduled to announce its next quarterly earnings results on Monday, July 24th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $193.45 million for the current financial year, with estimates ranging from $772.60 million to $783.50 million. For the next year, analysts expect that the firm will report sales of $842.50 million per share, with estimates ranging from $816.00 million to $869.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Thursday, April 27th. The asset manager reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $184.10 million for the quarter, compared to analyst estimates of $182.36 million. Artisan Partners Asset Management had a net margin of 10.47% and a return on equity of 61.99%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, June 5th. ValuEngine lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.00 target price on shares of Artisan Partners Asset Management in a report on Thursday, June 1st. Finally, Sidoti began coverage on shares of Artisan Partners Asset Management in a research report on Thursday, March 30th. They issued a “neutral” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.81.

Several hedge funds and other institutional investors have recently modified their holdings of APAM. Segantii Capital Management Ltd bought a new position in Artisan Partners Asset Management during the first quarter worth about $135,000. Tower Research Capital LLC TRC bought a new position in Artisan Partners Asset Management during the first quarter worth about $151,000. Utah Retirement Systems increased its position in Artisan Partners Asset Management by 10.4% in the first quarter. Utah Retirement Systems now owns 7,400 shares of the asset manager’s stock worth $205,000 after buying an additional 700 shares during the last quarter. KCG Holdings Inc. bought a new position in Artisan Partners Asset Management during the first quarter worth about $213,000. Finally, First Mercantile Trust Co. increased its position in Artisan Partners Asset Management by 23.1% in the first quarter. First Mercantile Trust Co. now owns 7,723 shares of the asset manager’s stock worth $213,000 after buying an additional 1,451 shares during the last quarter. Hedge funds and other institutional investors own 98.12% of the company’s stock.

Shares of Artisan Partners Asset Management (NYSE:APAM) opened at 29.70 on Wednesday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 18.68 and a beta of 1.74. The firm has a 50-day moving average of $28.91 and a 200 day moving average of $28.88. Artisan Partners Asset Management has a 12-month low of $24.48 and a 12-month high of $32.20.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.08%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 151.90%.

COPYRIGHT VIOLATION WARNING: “$193.45 Million in Sales Expected for Artisan Partners Asset Management Inc. (APAM) This Quarter” was first published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/06/21/193-45-million-in-sales-expected-for-artisan-partners-asset-management-inc-apam-this-quarter.html.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

Get a free copy of the Zacks research report on Artisan Partners Asset Management (APAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Artisan Partners Asset Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artisan Partners Asset Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.