$178.25 Million in Sales Expected for Artisan Partners Asset Management Inc (APAM) This Quarter

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Brokerages expect Artisan Partners Asset Management Inc (NYSE:APAM) to report $178.25 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Artisan Partners Asset Management’s earnings, with the lowest sales estimate coming in at $174.80 million and the highest estimate coming in at $181.70 million. Artisan Partners Asset Management reported sales of $212.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 15.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Artisan Partners Asset Management will report full year sales of $751.20 million for the current fiscal year, with estimates ranging from $742.30 million to $760.10 million. For the next financial year, analysts anticipate that the business will post sales of $814.85 million, with estimates ranging from $811.10 million to $818.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Monday, February 4th. The asset manager reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). The company had revenue of $191.50 million for the quarter, compared to the consensus estimate of $193.12 million. Artisan Partners Asset Management had a return on equity of 194.05% and a net margin of 19.10%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS.

APAM has been the subject of several research analyst 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 downgraded shares of Artisan Partners Asset Management from a “neutral” rating to a “sell” rating in a report on Monday, January 14th. Finally, TheStreet downgraded shares of Artisan Partners Asset Management from a “b-” rating to a “c+” rating in a report on Friday, December 7th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.80.

Shares of APAM stock opened at $24.36 on Thursday. The stock has a market cap of $1.94 billion, a P/E ratio of 8.29, a P/E/G ratio of 1.52 and a beta of 1.68. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.46. Artisan Partners Asset Management has a 52 week low of $20.16 and a 52 week high of $35.65.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 14th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 9.20%. The ex-dividend date is Wednesday, February 13th. Artisan Partners Asset Management’s payout ratio is 81.63%.

Several hedge funds have recently made changes to their positions in APAM. California Public Employees Retirement System boosted its holdings in Artisan Partners Asset Management by 46.3% in the 2nd quarter. California Public Employees Retirement System now owns 82,168 shares of the asset manager’s stock valued at $2,477,000 after purchasing an additional 26,018 shares during the period. Schroder Investment Management Group boosted its holdings in Artisan Partners Asset Management by 22.3% in the 2nd quarter. Schroder Investment Management Group now owns 156,902 shares of the asset manager’s stock valued at $4,675,000 after purchasing an additional 28,588 shares during the period. Bank of New York Mellon Corp boosted its holdings in Artisan Partners Asset Management by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 731,727 shares of the asset manager’s stock valued at $22,061,000 after purchasing an additional 12,100 shares during the period. Northern Trust Corp boosted its holdings in Artisan Partners Asset Management by 5.6% in the 2nd quarter. Northern Trust Corp now owns 732,382 shares of the asset manager’s stock valued at $22,082,000 after purchasing an additional 39,061 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Artisan Partners Asset Management by 46.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 39,300 shares of the asset manager’s stock valued at $1,273,000 after purchasing an additional 12,400 shares during the period. 64.52% of the stock is 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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