Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 10.57% gross of fees, underperforming the Russell 1000 Value Index, which returned 12.42%. The underperformance of the fund relative to the benchmark in the quarter was attributed to the stock selection while the sector allocation had a positive impact. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Value Equity Strategy highlighted stocks like Ameriprise Financial, Inc. (NYSE:AMP) in its Q4 2022 investor letter. Headquartered in Minneapolis, Minnesota, Ameriprise Financial, Inc. (NYSE:AMP) is a financial company that operates through Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other segments. On March 24, 2023, Ameriprise Financial, Inc. (NYSE:AMP) stock closed at $291.44 per share. One-month return of Ameriprise Financial, Inc. (NYSE:AMP) was -14.23%, and its shares lost 7.37% of their value over the last 52 weeks. Ameriprise Financial, Inc. (NYSE:AMP) has a market capitalization of $30.683 billion.
Aristotle Value Equity Strategy made the following comment about Ameriprise Financial, Inc. (NYSE:AMP) in its Q4 2022 investor letter:
“Ameriprise Financial, Inc. (NYSE:AMP), the investment management firm, was a top contributor for the quarter. During our time as shareholders, Ameriprise has continued to execute on its transformation into an important player in the asset and wealth management industry (and away from insurance products). Today the Advice & Wealth Management segment, combined with the Asset Management segment, account for nearly 80% of the company’s revenues. This has served to de-risk its business model, unlock excess capital (of which it returned $632 million to shareholders during the quarter) and improve returns on equity, which are now in excess of 47%. In addition, the company takes pride in its ability to attract and retain financial advisors, providing them the tools to build relationships with clients. The market volatility during the year, in our view, has given ample opportunity for Ameriprise’s advisors to demonstrate the value their services can provide for clients.”
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Ameriprise Financial, Inc. (NYSE:AMP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Ameriprise Financial, Inc. (NYSE:AMP) at the end of the fourth quarter which was 35 in the previous quarter.
We discussed Ameriprise Financial, Inc. (NYSE:AMP) in another article and shared Bank of America’s Top 15 Stock Picks for 2023. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
