Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) announced a quarterly dividend on Tuesday, April 26th, Zacks reports. Stockholders of record on Tuesday, May 17th will be given a dividend of 0.76 per share by the asset manager on Tuesday, May 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 9.01%. The ex-dividend date is Monday, May 16th.
Artisan Partners Asset Management has raised its dividend by an average of 9.9% annually over the last three years. Artisan Partners Asset Management has a dividend payout ratio of 93.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Artisan Partners Asset Management to earn $4.44 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 92.8%.
APAM opened at $33.75 on Thursday. The business has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $43.19. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 6.66 and a beta of 1.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70. Artisan Partners Asset Management has a one year low of $33.49 and a one year high of $57.21.
Hedge funds have recently added to or reduced their stakes in the stock. Wealthsource Partners LLC bought a new position in Artisan Partners Asset Management in the 4th quarter valued at approximately $222,000. Madison Asset Management LLC lifted its position in Artisan Partners Asset Management by 23.1% in the 4th quarter. Madison Asset Management LLC now owns 13,019 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 2,443 shares in the last quarter. Squarepoint Ops LLC bought a new position in Artisan Partners Asset Management in the 4th quarter valued at approximately $651,000. Kingsview Wealth Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 20.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 16,538 shares of the asset manager’s stock valued at $788,000 after buying an additional 2,830 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Artisan Partners Asset Management by 0.7% during the 4th quarter. Legal & General Group Plc now owns 51,761 shares of the asset manager’s stock valued at $2,466,000 after buying an additional 366 shares during the period. 68.45% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. The Goldman Sachs Group downgraded Artisan Partners Asset Management from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $48.00 in a report on Tuesday, January 4th. StockNews.com downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup cut their price target on Artisan Partners Asset Management from $41.50 to $36.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average price target of $49.79.
Artisan Partners Asset Management Company Profile (Get Rating)
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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