Artisan Partners Asset Management Inc (APAM) Expected to Post Quarterly Sales of $211.90 Million

Analysts expect Artisan Partners Asset Management Inc (NYSE:APAM) to announce sales of $211.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Artisan Partners Asset Management’s earnings, with the lowest sales estimate coming in at $211.70 million and the highest estimate coming in at $212.10 million. Artisan Partners Asset Management reported sales of $204.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The business is expected to report its next earnings report on Tuesday, October 30th.

On average, analysts expect that Artisan Partners Asset Management will report full year sales of $852.75 million for the current financial year, with estimates ranging from $852.10 million to $853.40 million. For the next year, analysts expect that the company will report sales of $899.50 million per share, with estimates ranging from $882.80 million to $916.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, July 31st. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The firm had revenue of $212.30 million during the quarter, compared to the consensus estimate of $208.46 million. Artisan Partners Asset Management had a return on equity of 181.69% and a net margin of 10.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share.

APAM has been the subject of a number of research analyst reports. TheStreet raised Artisan Partners Asset Management from a “c+” rating to a “b” rating in a report on Tuesday, May 29th. ValuEngine downgraded Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, July 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $34.00 price objective on shares of Artisan Partners Asset Management in a research note on Thursday, August 2nd. Finally, Bank of America boosted their price objective on Artisan Partners Asset Management from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.20.

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in Artisan Partners Asset Management by 49.5% in the first quarter. PNC Financial Services Group Inc. now owns 691,584 shares of the asset manager’s stock valued at $23,031,000 after buying an additional 228,932 shares during the last quarter. Northern Trust Corp lifted its stake in Artisan Partners Asset Management by 0.9% in the first quarter. Northern Trust Corp now owns 693,321 shares of the asset manager’s stock valued at $23,088,000 after buying an additional 6,428 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Artisan Partners Asset Management by 5.0% during the first quarter. Natixis Advisors L.P. now owns 161,158 shares of the asset manager’s stock worth $5,367,000 after purchasing an additional 7,635 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Artisan Partners Asset Management during the second quarter worth approximately $1,336,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Artisan Partners Asset Management by 5.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,828,265 shares of the asset manager’s stock worth $160,782,000 after purchasing an additional 256,591 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

APAM traded up $0.65 on Friday, reaching $32.55. The company’s stock had a trading volume of 204,723 shares, compared to its average volume of 222,986. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.95 and a beta of 1.75. Artisan Partners Asset Management has a fifty-two week low of $29.55 and a fifty-two week high of $41.45.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend was Thursday, August 16th. Artisan Partners Asset Management’s dividend payout ratio is currently 99.59%.

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.

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