Ameriprise Financial, Inc. $AMP Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 397,435 shares of the financial services provider’s stock after selling 36,412 shares during the quarter. Ameriprise Financial accounts for 1.1% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 17th largest position. Epoch Investment Partners Inc.’s holdings in Ameriprise Financial were worth $212,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC lifted its stake in Ameriprise Financial by 4.2% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after acquiring an additional 667 shares during the last quarter. NorthRock Partners LLC raised its holdings in shares of Ameriprise Financial by 8.9% in the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $371,000. Advisory Alpha LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth $265,000. Finally, Voya Investment Management LLC grew its stake in shares of Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price for the company. Royal Bank Of Canada lowered their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Stock Up 0.9%

AMP stock opened at $474.11 on Friday. The company has a market cap of $44.05 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. The company has a fifty day moving average price of $469.34 and a 200 day moving average price of $498.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the business posted $9.02 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is presently 17.55%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.