Artisan Partners Asset Management Inc (APAM) Expected to Post Quarterly Sales of $207.25 Million

Wall Street brokerages forecast that Artisan Partners Asset Management Inc (NYSE:APAM) will report sales of $207.25 million for the current quarter, according to Zacks. Two analysts have provided estimates for Artisan Partners Asset Management’s earnings, with the highest sales estimate coming in at $212.10 million and the lowest estimate coming in at $202.40 million. Artisan Partners Asset Management posted sales of $210.70 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.6%. The company is expected to issue its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $844.35 million for the current fiscal year, with estimates ranging from $839.50 million to $849.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $826.55 million, with estimates ranging from $771.10 million to $882.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 30th. The asset manager reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $212.17 million. During the same period in the previous year, the firm earned $0.65 EPS. Artisan Partners Asset Management’s revenue was up 4.0% on a year-over-year basis.

APAM has been the topic of a number of research reports. Royal Bank of Canada set a $34.00 target price on shares of Artisan Partners Asset Management and gave the stock a “buy” rating in a report on Thursday, November 1st. Citigroup dropped their target price on shares of Artisan Partners Asset Management from $31.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, November 1st. Zacks Investment Research downgraded shares of Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Finally, ValuEngine downgraded shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average target price of $32.80.

NYSE APAM opened at $25.42 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.68 and a current ratio of 0.68. Artisan Partners Asset Management has a 12 month low of $25.03 and a 12 month high of $41.45. The company has a market capitalization of $2.10 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 0.96 and a beta of 1.69.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 9.44%. The ex-dividend date was Thursday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 99.59%.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Artisan Partners Asset Management by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,596,556 shares of the asset manager’s stock worth $148,928,000 after acquiring an additional 81,738 shares in the last quarter. BlackRock Inc. increased its position in shares of Artisan Partners Asset Management by 2.2% in the third quarter. BlackRock Inc. now owns 3,375,900 shares of the asset manager’s stock worth $109,379,000 after acquiring an additional 71,695 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Artisan Partners Asset Management by 2.0% in the third quarter. Wells Fargo & Company MN now owns 2,520,032 shares of the asset manager’s stock worth $81,650,000 after acquiring an additional 48,241 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Artisan Partners Asset Management by 12.3% in the third quarter. Channing Capital Management LLC now owns 2,179,110 shares of the asset manager’s stock worth $70,603,000 after acquiring an additional 238,100 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Artisan Partners Asset Management by 30.8% in the second quarter. Royce & Associates LP now owns 1,176,525 shares of the asset manager’s stock worth $35,472,000 after acquiring an additional 276,800 shares in the last quarter. 62.70% of the stock is currently owned by institutional investors and hedge funds.

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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