Epoch Investment Partners Inc. Sells 27,246 Shares of Ameriprise Financial, Inc. $AMP

Epoch Investment Partners Inc. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 8.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 297,890 shares of the financial services provider’s stock after selling 27,246 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Ameriprise Financial were worth $146,067,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. NEOS Investment Management LLC lifted its stake in Ameriprise Financial by 45.5% in the 3rd quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 3,838 shares in the last quarter. Pensionfund Sabic purchased a new stake in Ameriprise Financial in the 4th quarter worth $1,471,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Ameriprise Financial by 2,600.0% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock worth $1,711,000 after purchasing an additional 3,354 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in Ameriprise Financial by 32.4% in the 3rd quarter. Aberdeen Group plc now owns 94,385 shares of the financial services provider’s stock worth $47,154,000 after purchasing an additional 23,085 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $458.54 on Friday. The stock has a market cap of $41.22 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50 day moving average price of $457.02 and a 200-day moving average price of $472.73. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.50 EPS. Equities analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Insider Transactions at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AMP shares. Piper Sandler boosted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets upped their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings cut shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.