Ameriprise Financial Inc. Has $28.96 Million Position in KAR Auction Services, Inc (KAR)

Ameriprise Financial Inc. reduced its holdings in KAR Auction Services, Inc (NYSE:KAR) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 606,546 shares of the specialty retailer’s stock after selling 87,325 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.45% of KAR Auction Services worth $28,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC grew its position in KAR Auction Services by 59.3% during the second quarter. Aperio Group LLC now owns 29,982 shares of the specialty retailer’s stock valued at $1,258,000 after acquiring an additional 11,160 shares during the period. TD Asset Management Inc. grew its position in KAR Auction Services by 1.9% during the second quarter. TD Asset Management Inc. now owns 159,000 shares of the specialty retailer’s stock valued at $6,673,000 after acquiring an additional 3,000 shares during the period. Pioneer Investment Management Inc. grew its position in KAR Auction Services by 24.3% during the second quarter. Pioneer Investment Management Inc. now owns 98,367 shares of the specialty retailer’s stock valued at $4,129,000 after acquiring an additional 19,239 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in KAR Auction Services during the second quarter valued at about $334,000. Finally, Trexquant Investment LP purchased a new stake in KAR Auction Services during the second quarter valued at about $743,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

A number of research firms have issued reports on KAR. J P Morgan Chase & Co boosted their price target on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, November 8th. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research report on Thursday, November 2nd. Jefferies Group reissued a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a research report on Tuesday, September 12th. Finally, Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $51.00 to $48.00 in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $52.20.

In related news, EVP Benjamin Skuy sold 12,000 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total value of $481,400.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Shares of KAR Auction Services, Inc (NYSE KAR) traded up $0.09 during midday trading on Wednesday, hitting $50.74. The stock had a trading volume of 852,300 shares, compared to its average volume of 949,784. KAR Auction Services, Inc has a 52 week low of $40.27 and a 52 week high of $51.01. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $6,851.17, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company had revenue of $843.00 million during the quarter, compared to the consensus estimate of $846.42 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. sell-side analysts expect that KAR Auction Services, Inc will post 2.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be given a $0.35 dividend. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 2.76%. KAR Auction Services’s dividend payout ratio is presently 75.29%.

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About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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