Artisan Partners (APAM) Q4 Earnings Meet Estimates, AUM Rises

Artisan Partners Asset Management Inc. (APAM) reported fourth-quarter 2023 adjusted net income per adjusted share of 78 cents, meeting the Zacks Consensus Estimate. The bottom line increased 20% year over year.Results benefited from a rise in management fees earned from Artisan Funds & Artisan Global Funds and Separate accounts, which resulted in top-line growth. Balance sheet position and assets under management (AUM) balance improved in the reported quarter. However, elevated operating expenses were the u ...