Usca Ria LLC acquired a new position in Ameriprise Financial (NYSE:AMP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,215 shares of the financial services provider’s stock, valued at approximately $2,547,000.
Other institutional investors also recently made changes to their positions in the company. AXA grew its stake in shares of Ameriprise Financial by 26.3% in the fourth quarter. AXA now owns 497,212 shares of the financial services provider’s stock worth $84,262,000 after acquiring an additional 103,465 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth $133,000. Lazard Asset Management LLC boosted its stake in Ameriprise Financial by 5.7% during the fourth quarter. Lazard Asset Management LLC now owns 312,763 shares of the financial services provider’s stock worth $53,003,000 after buying an additional 16,895 shares in the last quarter. BB&T Securities LLC boosted its stake in Ameriprise Financial by 1.1% during the fourth quarter. BB&T Securities LLC now owns 49,751 shares of the financial services provider’s stock worth $8,431,000 after buying an additional 534 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Ameriprise Financial by 6.7% during the fourth quarter. Advisory Services Network LLC now owns 5,294 shares of the financial services provider’s stock worth $897,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
AMP has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Monday, April 9th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, April 5th. SunTrust Banks decreased their price target on shares of Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research note on Wednesday, April 25th. They noted that the move was a valuation call. UBS initiated coverage on shares of Ameriprise Financial in a research note on Friday, March 2nd. They set a “buy” rating and a $217.00 price target on the stock. Finally, ValuEngine downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $167.22.
In related news, CEO James M. Cracchiolo acquired 7,400 shares of the business’s stock in a transaction on Thursday, May 10th. The stock was bought at an average cost of $136.04 per share, with a total value of $1,006,696.00. Following the completion of the acquisition, the chief executive officer now owns 242,416 shares in the company, valued at $32,978,272.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Walter Stanley Berman acquired 3,728 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were bought at an average cost of $134.12 per share, with a total value of $499,999.36. Following the completion of the acquisition, the vice president now owns 25,076 shares of the company’s stock, valued at approximately $3,363,193.12. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.
Shares of NYSE AMP opened at $141.22 on Friday. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 11.53 and a beta of 1.86. Ameriprise Financial has a 52-week low of $138.01 and a 52-week high of $139.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.67.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.46 by $0.24. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Ameriprise Financial had a return on equity of 33.67% and a net margin of 13.59%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $2.52 earnings per share. sell-side analysts predict that Ameriprise Financial will post 14.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Monday, May 7th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.55%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.