Jefferies Financial Group Weighs in on Artisan Partners Asset Management Inc’s FY2019 Earnings (APAM)

Artisan Partners Asset Management Inc (NYSE:APAM) – Research analysts at Jefferies Financial Group dropped their FY2019 earnings estimates for shares of Artisan Partners Asset Management in a research note issued to investors on Monday, December 3rd. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will earn $2.80 per share for the year, down from their previous estimate of $3.32.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 30th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Artisan Partners Asset Management had a return on equity of 199.82% and a net margin of 11.60%. The company had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.

Several other equities analysts have also recently issued reports on APAM. Royal Bank of Canada set a $34.00 price target on Artisan Partners Asset Management and gave the company a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research cut Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Citigroup lowered their price target on Artisan Partners Asset Management from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, November 1st. Finally, ValuEngine cut Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.80.

Shares of APAM stock opened at $24.77 on Thursday. Artisan Partners Asset Management has a 1 year low of $24.11 and a 1 year high of $41.45. The firm has a market cap of $1.96 billion, a PE ratio of 10.16, a PEG ratio of 0.91 and a beta of 1.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.68 and a current ratio of 0.68.

The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 9.69%. The ex-dividend date was Thursday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 99.59%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Artisan Partners Asset Management by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,596,556 shares of the asset manager’s stock valued at $148,928,000 after buying an additional 81,738 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Artisan Partners Asset Management by 2.2% during the third quarter. BlackRock Inc. now owns 3,375,900 shares of the asset manager’s stock valued at $109,379,000 after buying an additional 71,695 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Artisan Partners Asset Management by 2.0% during the third quarter. Wells Fargo & Company MN now owns 2,520,032 shares of the asset manager’s stock valued at $81,650,000 after buying an additional 48,241 shares in the last quarter. Channing Capital Management LLC grew its holdings in shares of Artisan Partners Asset Management by 12.3% during the third quarter. Channing Capital Management LLC now owns 2,179,110 shares of the asset manager’s stock valued at $70,603,000 after buying an additional 238,100 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Artisan Partners Asset Management by 30.8% during the second quarter. Royce & Associates LP now owns 1,176,525 shares of the asset manager’s stock valued at $35,472,000 after buying an additional 276,800 shares in the last quarter. Institutional investors and hedge funds own 62.70% of the company’s stock.

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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Earnings History and Estimates for Artisan Partners Asset Management (NYSE:APAM)

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