Key Points
- Insider sale: EVP Gregory Ramirez sold 7,000 APAM shares for approximately $298,130, reducing his ownership by 6.02% to 109,194 shares.
- Financial performance: Artisan Partners exceeded quarterly expectations, reporting $0.94 in EPS versus the $0.91 consensus and revenue of $307.91 million, up 8.9% year over year.
- Dividend and sentiment: The company raised its quarterly dividend to $0.80, representing a 7.6% annualized yield. Analysts’ consensus rating remains “Reduce,” with an average price target of $38 versus the stock’s reported price of $42.04.
Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the transaction, the executive vice president owned 109,194 shares of the company's stock, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Artisan Partners Asset Management Trading Down 1.1%
APAM opened at $42.04 on Friday. Artisan Partners Asset Management Inc. has a 12-month low of $33.96 and a 12-month high of $47.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.41 billion, a PE ratio of 10.20 and a beta of 1.67. The firm's fifty day moving average price is $38.58 and its 200 day moving average price is $38.37.
Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $307.91 million during the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. As a group, research analysts expect that Artisan Partners Asset Management Inc. will post 3.91 EPS for the current fiscal year.
Artisan Partners Asset Management Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.80 dividend. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, August 17th. Artisan Partners Asset Management's dividend payout ratio is presently 77.67%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on APAM shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. TD Cowen upped their price target on Artisan Partners Asset Management from $35.00 to $37.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on Artisan Partners Asset Management from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a research note on Friday, July 10th. Finally, Zacks Research cut shares of Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $38.00.
Read Our Latest Stock Analysis on Artisan Partners Asset Management
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in Artisan Partners Asset Management in the 2nd quarter worth about $28,000. Triumph Capital Management boosted its position in shares of Artisan Partners Asset Management by 112.5% during the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager's stock worth $35,000 after buying an additional 450 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Artisan Partners Asset Management in the 4th quarter worth approximately $37,000. IFP Advisors Inc increased its position in Artisan Partners Asset Management by 45.8% in the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager's stock valued at $41,000 after acquiring an additional 300 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Artisan Partners Asset Management in the 4th quarter valued at approximately $51,000. 86.45% of the stock is owned by institutional investors and hedge funds.
Artisan Partners Asset Management Company Profile
(
Get Free Report)
Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.
Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.
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