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

Key Points

• Epoch Investment Partners reduced its Ameriprise Financial stake by 8.4% in the fourth quarter, selling 27,246 shares and ending with 297,890 shares valued at about $146.1 million.
• Ameriprise reported strong quarterly results, posting EPS of $11.26 versus estimates of $10.21 and revenue growth of 9.7% year over year, even though revenue slightly missed expectations.
• The company also raised its dividend to $1.70 per share quarterly, while analysts currently rate the stock a consensus “Hold” with a price target of $543.22.

Epoch Investment Partners Inc. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,890 shares of the financial services provider's stock after selling 27,246 shares during the period. Epoch Investment Partners Inc. owned approximately 0.32% of Ameriprise Financial worth $146,067,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AMP. SouthState Bank Corp grew its position in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares during the period. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $32,000. Finally, WFA of San Diego LLC bought a new stake in Ameriprise Financial in the 2nd quarter worth approximately $36,000. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

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

Ameriprise Financial Trading Up 1.8%

Shares of AMP stock opened at $458.54 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm has a fifty day moving average price of $457.02 and a 200-day moving average price of $472.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $41.22 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.97 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $9.50 EPS. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's payout ratio is presently 16.91%.

Insiders Place Their Bets

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company's stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company's stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

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.

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