Artisan Partners Asset Management (NYSE:APAM) Stock Price Down 5% Following Weak Earnings

Artisan Partners Asset Management Inc. (NYSE:APAM)’s share price dropped 5% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $41.11 and last traded at $41.25. Approximately 77,984 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 474,798 shares. The stock had previously closed at $43.43.

The asset manager reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Artisan Partners Asset Management had a return on equity of 74.25% and a net margin of 22.99%. The business had revenue of $264.40 million for the quarter, compared to analyst estimates of $270.90 million. During the same period last year, the firm posted $0.64 EPS. Artisan Partners Asset Management’s quarterly revenue was up 12.8% on a year-over-year basis.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.61 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.95%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 82.93%.

Analyst Upgrades and Downgrades

APAM has been the subject of a number of research analyst reports. TD Cowen initiated coverage on Artisan Partners Asset Management in a report on Thursday, January 4th. They set a “market perform” rating and a $41.00 price target for the company. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Sunday, March 17th.

Insiders Place Their Bets

In other Artisan Partners Asset Management news, EVP Gregory K. Ramirez sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $42.28, for a total value of $105,700.00. Following the completion of the transaction, the executive vice president now owns 83,335 shares of the company’s stock, valued at approximately $3,523,403.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 18.50% of the company’s stock.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA boosted its position in shares of Artisan Partners Asset Management by 458.3% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 550 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter valued at about $26,000. Allworth Financial LP boosted its position in shares of Artisan Partners Asset Management by 716.0% during the 4th quarter. Allworth Financial LP now owns 612 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 537 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Artisan Partners Asset Management by 70.3% during the 4th quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 265 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Artisan Partners Asset Management during the 4th quarter valued at about $31,000. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Trading Down 2.8 %

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $43.72 and a 200 day moving average of $41.01. The company has a market cap of $3.28 billion, a P/E ratio of 12.38 and a beta of 1.85.

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.