Epoch Investment Partners Inc. Raises Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Epoch Investment Partners Inc. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% in the 2nd quarter, Holdings Channel reports. The firm owned 458,565 shares of the financial services provider’s stock after purchasing an additional 17,312 shares during the period. Ameriprise Financial makes up about 0.9% of Epoch Investment Partners Inc.’s portfolio, making the stock its 24th biggest position. Epoch Investment Partners Inc.’s holdings in Ameriprise Financial were worth $195,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. TrinityPoint Wealth LLC lifted its holdings in Ameriprise Financial by 15.4% in the fourth quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after buying an additional 227 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Ameriprise Financial by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock valued at $1,622,000 after purchasing an additional 110 shares during the period. US Bancorp DE boosted its position in shares of Ameriprise Financial by 3.1% during the fourth quarter. US Bancorp DE now owns 98,904 shares of the financial services provider’s stock valued at $37,567,000 after purchasing an additional 2,953 shares in the last quarter. Eagle Global Advisors LLC grew its stake in Ameriprise Financial by 8.1% in the fourth quarter. Eagle Global Advisors LLC now owns 1,600 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 120 shares during the period. Finally, Skopos Labs Inc. purchased a new stake in Ameriprise Financial in the fourth quarter worth $356,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP stock opened at $460.61 on Friday. The stock’s 50 day simple moving average is $430.15 and its 200 day simple moving average is $428.59. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $465.82. The stock has a market capitalization of $45.75 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company posted $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $464.33.

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.