Core Viewpoint - Artisan Partners Asset Management Inc. reported a mixed performance in Q1 2024, with adjusted net income per share of 76 cents, missing estimates, but showing an 18.7% year-over-year increase in net income attributable to the company [1][2]. Revenue and Expenses - Revenues for the first quarter reached $264.4 million, a 12.7% increase year-over-year, but fell short of the Zacks Consensus Estimate of $270.2 million [2]. - Management fees from Artisan Funds & Artisan Global Funds rose 14.4% year-over-year to $165.5 million, while fees from Separate accounts increased by 10.1% to $98.9 million [2]. - Total operating expenses were $186.7 million, up 12.3% year-over-year, driven by increases across all components except operating costs [2]. - Operating income improved to $77.7 million, reflecting a 13.8% year-over-year growth [2]. Assets Under Management (AUM) - As of March 31, 2024, the ending AUM was $160.4 billion, a 6.8% increase from the previous quarter, primarily due to investment returns, despite net client cash outflows [3]. - The average AUM for the quarter was $154.1 billion, up 9.8% from the prior quarter [3]. Balance Sheet Position - Cash and cash equivalents increased to $184.2 million from $141 million as of December 31, 2023 [4]. - The debt leverage ratio was reported at 0.5X as of March 31, 2024 [4]. Dividend Update - The board declared a variable first-quarter dividend of 61 cents per share of Class A common stock, payable on May 31 to shareholders of record as of May 17, 2024 [5]. Industry Performance - BlackRock, Inc. reported adjusted earnings of $9.81 per share, exceeding estimates and reflecting a 24% year-over-year increase, driven by revenue growth and higher non-operating income [7]. - Invesco's adjusted earnings of 33 cents per share fell short of estimates, declining 13.2% year-over-year, impacted by reduced revenues and higher expenses, although AUM saw an increase due to decent inflows [7].

Artisan Partners Asset Management (APAM) came out with quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.80%. A quarter ago, it was expected that this investment management firm would post earnings of $0.78 per share when it actually produced earnings of $0.78, delivering no surprise.Over the last ...

Financial Performance - Revenues for the March 2024 quarter were $264.4 million, a 6% increase from $249.0 million in the December 2023 quarter, driven by higher average AUM[3] - GAAP net income for the March 2024 quarter was $59.5 million, or $0.84 per share, compared to $64.8 million, or $0.92 per share, in the December 2023 quarter[3] - Adjusted net income for the March 2024 quarter was $61.6 million, or $0.76 per adjusted share, compared to $62.8 million, or $0.78 per adjusted share, in the December 2023 quarter[3] - Operating income for the same period was $77.7 million, slightly up from $76.4 million in the previous quarter and significantly higher than $68.3 million a year ago[17] - Net income attributable to Artisan Partners Asset Management Inc. was $59.5 million, down from $64.8 million in the previous quarter but up from $50.8 million year-over-year[17] - Adjusted net income (Non-GAAP) for the quarter was $61.6 million, slightly down from $62.8 million in the previous quarter and up from $51.8 million year-over-year[20] - Adjusted operating income (Non-GAAP) was $81.6 million, compared to $80.0 million in the previous quarter and $70.0 million a year ago[20] Assets Under Management (AUM) - Assets Under Management (AUM) increased to $160.4 billion as of March 31, 2024, a 7% increase from $150.2 billion at December 31, 2023, primarily due to $10.8 billion of market appreciation[3] - AUM increased by 16% from $138.5 billion at March 31, 2023, primarily due to $26.0 billion of investment returns[4] - Total assets under management (AUM) as of March 31, 2024, reached $160.384 billion, an increase from $150.167 billion at the end of the previous quarter[38] - Average AUM for the quarter was $154.158 billion, compared to $140.291 billion in the same quarter last year, reflecting a year-over-year growth[38] Operating Expenses - Operating expenses increased to $186.7 million in the March 2024 quarter, an 8% increase from $172.6 million in the December 2023 quarter, primarily due to higher incentive compensation expenses[3] - Total operating expenses increased to $186.7 million from $172.6 million in the previous quarter and $166.2 million a year ago[17] Cash Flow and Dividends - The company declared a variable quarterly dividend of $0.68 per share for the March 2024 quarter, representing approximately 80% of the cash generated[9] - Cash and cash equivalents were $184.2 million at March 31, 2024, up from $141.0 million at December 31, 2023[9] Investment Performance - Total investment gains were $31.3 million in the March 2024 quarter, compared to $36.2 million in the December 2023 quarter[3] - Investment returns and other contributions amounted to $10,825 million, down 25.7% from $14,564 million in the previous quarter[32] - The overall performance of the investment strategies is reflected in the gross composite performance metrics, which are expected to be detailed in subsequent reports[39] Client Cash Flows - Gross client cash inflows totaled $6,186 million for the three months ended March 31, 2024, a 12.3% increase from $5,506 million in the previous quarter[32] - Net client cash flows were negative at $(523) million, compared to $(398) million in the previous quarter, indicating a decline in net inflows[32] Strategic Focus - The company plans to expand its investment strategies and enhance its product offerings to drive future growth[36] - Artisan Partners has been managing client assets since 1994, focusing on value-added investment strategies[15] Conference Call Information - The conference call will be hosted on April 24, 2024, at 1:00 p.m. (Eastern Time) to discuss the financial results[12] - The conference call will be accessible via the company's website and through a dedicated phone line for international callers[12] - A replay of the conference call will be available until May 1, 2024, at 9:00 a.m. (Eastern Time)[12] Investment Strategies and Rankings - Artisan High Income Fund - Advisor Share was ranked 74 out of 666 in the High Yield Bond category for the 1-year period as of March 31, 2024[15] - The company provides a diverse range of investment strategies across multiple asset classes, committed to attracting experienced investment professionals[15] - The document includes performance data for various strategies, with specific returns and benchmarks noted[1]

MILWAUKEE, April 23, 2024 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE:APAM) (the "Company" or "Artisan Partners") today reported its results for the three months ended March 31, 2024, and declared a quarterly dividend. The full March 2024 quarter earnings release and investor presentation can be viewed at www.apam.com. Conference Call The Company will host a conference call on April 24, 2024, at 1:00 p.m. (Eastern Time) to discuss its results for the three months ended March 31, 2024. H ...

MILWAUKEE, April 09, 2024 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE:APAM) will report its first quarter 2024 financial results and information relating to its quarterly dividend on April 23, 2024 at approximately 4:30 p.m. (Eastern Time). Artisan Partners Asset Management's earnings release and supplemental materials will be available on the investor relations section of artisanpartners.com at that time. Chief Executive Officer Eric Colson, President Jason Gottlieb and Chief Financial ...

MILWAUKEE, April 09, 2024 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE: APAM) will report its first quarter 2024 financial results and information relating to its quarterly dividend on April 23, 2024 at approximately 4:30 p.m. (Eastern Time). Artisan Partners Asset Management’s earnings release and supplemental materials will be available on the investor relations section of artisanpartners.com at that time. Chief Executive Officer Eric Colson, President Jason Gottlieb and Chief Financia ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, March 19th:Artisan Partners Asset Management (APAM) : This investment management firm which is focused on providing high-value added, active investment strategies to clients globally, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.2% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 6.4%, compared with the industry average of 2.9%.G ...

One stock that might be an intriguing choice for investors right now is Artisan Partners Asset Management Inc. (APAM) . This is because this security in the Financial - Investment Management space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is ...

Artisan Partners Asset Management (APAM) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estima ...

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