Cim Investment Mangement Inc. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,337 shares of the financial services provider’s stock after selling 175 shares during the quarter. Cim Investment Mangement Inc.’s holdings in Ameriprise Financial were worth $453,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Ameriprise Financial by 11.1% in the third quarter. Bank of New York Mellon Corp now owns 3,437,464 shares of the financial services provider’s stock valued at $507,575,000 after acquiring an additional 342,277 shares during the period. LSV Asset Management increased its position in Ameriprise Financial by 1.7% during the 4th quarter. LSV Asset Management now owns 3,152,496 shares of the financial services provider’s stock worth $329,026,000 after purchasing an additional 53,218 shares in the last quarter. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,577,013 shares of the financial services provider’s stock worth $380,523,000 after purchasing an additional 263,728 shares in the last quarter. Lyrical Asset Management LP increased its position in Ameriprise Financial by 5.4% during the 3rd quarter. Lyrical Asset Management LP now owns 2,422,154 shares of the financial services provider’s stock worth $357,655,000 after purchasing an additional 123,738 shares in the last quarter. Finally, FMR LLC increased its position in Ameriprise Financial by 65.9% during the 2nd quarter. FMR LLC now owns 2,079,355 shares of the financial services provider’s stock worth $290,861,000 after purchasing an additional 825,832 shares in the last quarter. 83.32% of the stock is owned by institutional investors.
AMP opened at $125.57 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.66. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 8.40 and a beta of 1.89. Ameriprise Financial, Inc. has a 12 month low of $95.69 and a 12 month high of $163.88.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $3.80 EPS for the quarter, beating the consensus estimate of $3.68 by $0.12. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 15.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 14th. Ameriprise Financial’s dividend payout ratio (DPR) is 24.10%.
A number of analysts recently commented on the company. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Royal Bank of Canada set a $134.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, February 2nd. ValuEngine upgraded Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 15th. Morgan Stanley dropped their price objective on Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, January 11th. Finally, Barclays upgraded Ameriprise Financial from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $165.00 to $135.00 in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $152.38.
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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.
See Also: Systematic Risk
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