Artisan Partners Asset Management Inc. (NYSE:APAM) Expected to Earn Q2 2023 Earnings of $0.64 Per Share

Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) – Equities research analysts at Zacks Research lifted their Q2 2023 earnings per share estimates for shares of Artisan Partners Asset Management in a report released on Tuesday, May 16th. Zacks Research analyst D. Chamria now anticipates that the asset manager will earn $0.64 per share for the quarter, up from their prior forecast of $0.63. The consensus estimate for Artisan Partners Asset Management’s current full-year earnings is $2.68 per share. Zacks Research also issued estimates for Artisan Partners Asset Management’s Q3 2023 earnings at $0.68 EPS, Q4 2023 earnings at $0.67 EPS, FY2023 earnings at $2.63 EPS, Q1 2024 earnings at $0.67 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.82 EPS, Q1 2025 earnings at $0.74 EPS and FY2025 earnings at $3.03 EPS.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, January 31st. The Goldman Sachs Group cut shares of Artisan Partners Asset Management from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $33.00 to $27.00 in a research note on Monday, March 6th. StockNews.com assumed coverage on Artisan Partners Asset Management in a research note on Thursday. They issued a “hold” rating on the stock. Credit Suisse Group increased their target price on shares of Artisan Partners Asset Management from $29.50 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Finally, Keefe, Bruyette & Woods upped their target price on Artisan Partners Asset Management from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Hold” and a consensus price target of $33.60.

Artisan Partners Asset Management Price Performance

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Shares of NYSE:APAM opened at $32.79 on Friday. The company’s fifty day moving average is $32.52 and its two-hundred day moving average is $33.14. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. Artisan Partners Asset Management has a 12-month low of $25.67 and a 12-month high of $40.68. The company has a market cap of $2.61 billion, a P/E ratio of 11.92 and a beta of 1.82.

Artisan Partners Asset Management (NYSE:APAM – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The asset manager reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Artisan Partners Asset Management had a net margin of 20.31% and a return on equity of 84.38%. The company had revenue of $234.50 million during the quarter, compared to the consensus estimate of $233.58 million. During the same period in the prior year, the company earned $0.98 EPS. Artisan Partners Asset Management’s revenue was down 16.7% on a year-over-year basis.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of APAM. Acadian Asset Management LLC acquired a new position in shares of Artisan Partners Asset Management during the 1st quarter worth about $26,000. Eagle Bay Advisors LLC acquired a new position in shares of Artisan Partners Asset Management in the second quarter valued at $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of Artisan Partners Asset Management by 95.3% during the first quarter. Geneos Wealth Management Inc. now owns 840 shares of the asset manager’s stock worth $33,000 after acquiring an additional 410 shares during the period. State of Wyoming acquired a new stake in shares of Artisan Partners Asset Management during the fourth quarter worth $26,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 267.2% during the first quarter. Lazard Asset Management LLC now owns 929 shares of the asset manager’s stock worth $36,000 after buying an additional 676 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, May 16th. This represents a $2.00 annualized dividend and a dividend yield of 6.10%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 72.73%.

Artisan Partners Asset Management Company Profile

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Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.