Artisan Partners Asset Management Inc (NYSE:APAM) Raises Dividend to $0.67 Per Share

Artisan Partners Asset Management Inc (NYSE:APAM) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Monday, August 17th will be paid a dividend of 0.67 per share by the asset manager on Monday, August 31st. This represents a $2.68 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61.

Artisan Partners Asset Management has decreased its dividend payment by an average of 1.7% annually over the last three years. Artisan Partners Asset Management has a dividend payout ratio of 102.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Artisan Partners Asset Management to earn $3.02 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 80.8%.

NYSE:APAM traded down $0.07 on Thursday, reaching $35.41. 3,298 shares of the stock traded hands, compared to its average volume of 416,823. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 2.12 and a beta of 2.03. Artisan Partners Asset Management has a 1-year low of $17.69 and a 1-year high of $38.09. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.68. The company’s 50 day moving average is $32.53 and its 200-day moving average is $29.36.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a net margin of 20.41% and a return on equity of 178.20%. The business had revenue of $203.00 million for the quarter, compared to analyst estimates of $192.01 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Artisan Partners Asset Management’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Artisan Partners Asset Management will post 2.74 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. TheStreet raised Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods raised Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $25.00 to $34.00 in a research report on Thursday, April 30th. Bank of America lifted their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. ValuEngine downgraded shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Finally, Citigroup lifted their price target on shares of Artisan Partners Asset Management from $41.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $38.20.

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.

Further Reading: Dead Cat Bounce

Dividend History for Artisan Partners Asset Management (NYSE:APAM)

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