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

Epoch Investment Partners Inc. increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 458,565 shares of the financial services provider’s stock after acquiring an additional 17,312 shares during the quarter. Ameriprise Financial comprises 0.9% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 24th largest holding. Epoch Investment Partners Inc. owned approximately 0.46% of Ameriprise Financial worth $195,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the period. First Trust Advisors LP boosted its stake in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after purchasing an additional 512,884 shares during the period. TD Asset Management Inc grew its holdings in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares in the last quarter. Swedbank AB bought a new stake in shares of Ameriprise Financial during the first quarter valued at about $108,938,000. Finally, AGF Management Ltd. lifted its holdings in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after buying an additional 131,844 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ameriprise Financial Stock Down 0.7 %

Shares of AMP opened at $460.61 on Friday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $465.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a 50 day simple moving average of $430.15 and a two-hundred day simple moving average of $428.59. The firm has a market cap of $45.75 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.44 EPS. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

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.