MILWAUKEE - Artisan Partners (NYSE:APAM) Asset Management Inc. (NYSE: APAM), a global investment management firm, has announced its preliminary assets under management (AUM) totaling $166.2 billion as of August 31, 2024. The firm's AUM includes $80.1 billion from Artisan Funds and Artisan Global Funds, with the remaining $86.1 billion comprising separate accounts and other vehicles.
The report detailed AUM by strategy, with the International Value Team managing the largest portion at $46.3 billion. The Global Value Team followed with $28.9 billion, while the Growth Team's Global Opportunities strategy held $21.9 billion. Other strategies such as U.S. Mid-Cap Growth and Non-U.S. Growth also contributed significant amounts to the total AUM.
Artisan Partners' diverse range of investment strategies spans multiple asset classes and caters to a variety of client mandates through different investment vehicles. The firm emphasizes its commitment to employing experienced and disciplined investment professionals.
The reported AUM for certain strategies includes $95.1 million for which Artisan Partners provides investment models to managed account sponsors. This figure is reported with a lag not exceeding one quarter.
This announcement, based on a press release statement, reflects the firm's financial position as of the end of August and does not include any promotional content or subjective assessment. Artisan Partners has been serving sophisticated clients around the world with high value-added investment strategies since 1994.
In other recent news, Artisan Partners Asset Management has reported its Q2 2024 financial results, revealing an 11% year-over-year increase in assets under management (AUM), now standing at $159 billion. Despite a minor quarterly decrease, the firm's strategic focus on high-value-added and alternative investments has led to a revenue increase and an improvement in adjusted net income per share. TD Cowen, in their recent analysis, maintained a Hold rating on Artisan Partners, citing expectations of the company achieving break-even net volumes by year-end and possibly reaching approximately 1% long-term net new assets annual organic growth rate next year.
This anticipated growth is attributed to Artisan Partners' scaling efforts in alternatives and credit, alongside enhanced distribution strategies. However, despite the positive outlook on growth, TD Cowen has revised downward the adjusted earnings per share estimates for 2024 and 2025, taking into account recent market activities and expectations of tighter margins. The company has also reported mixed cash flows, with inflows in sustainable emerging markets and fixed income strategies compensating for outflows in other areas.
Artisan Partners is actively seeking expansion opportunities in alternative investments and expects consistent fee rates for these strategies. The firm's robust balance sheet, highlighted by $150 million of seed capital and an untouched $100 million credit facility, supports this endeavor. The company is also planning active fundraising for alternative strategies over the next 12 to 18 months. Despite experiencing net outflows in growth and value strategies, Artisan Partners remains optimistic about emerging market equities and debt strategies, citing potential institutional allocations.
InvestingPro Insights
Artisan Partners Asset Management Inc. (NYSE: APAM) has demonstrated resilience with their recent announcement of preliminary assets under management. An analysis of real-time data from InvestingPro provides further insights into the company's financial health and stock performance. With a market capitalization of approximately $3.22 billion, the firm stands as a significant player in the investment management sector.
The company's Price-to-Earnings (P/E) ratio, a metric that evaluates a company's share price relative to its per-share earnings, is currently at 11.98, indicating that the stock is trading at a low multiple relative to near-term earnings growth. This could suggest that the company's stock may be undervalued compared to its earnings potential. For investors seeking income as well as growth, Artisan Partners pays a significant dividend, with a current yield of 7.99%, and has maintained these payments for 12 consecutive years, reflecting a strong commitment to returning value to shareholders.
InvestingPro Tips highlight that while Artisan Partners' stock price movements are quite volatile, the company has maintained profitability over the last twelve months and analysts predict it will be profitable this year as well. Moreover, the company's cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations, underpinning its financial stability.
For readers interested in a deeper dive into Artisan Partners' financial metrics and stock performance, additional InvestingPro Tips are available, offering a comprehensive analysis of the company's investment potential. As of now, there are 11 more tips listed on InvestingPro that can provide investors with a more nuanced understanding of APAM's financial landscape.
To explore these additional insights and tips, visit InvestingPro at: https://www.investing.com/pro/APAM
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