Gilbert & Cook Inc. Increases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Gilbert & Cook Inc. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,572 shares of the financial services provider’s stock after buying an additional 86 shares during the period. Gilbert & Cook Inc.’s holdings in Ameriprise Financial were worth $231,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMP. Associated Banc Corp boosted its position in Ameriprise Financial by 2.8% in the second quarter. Associated Banc Corp now owns 48,278 shares of the financial services provider’s stock worth $7,008,000 after purchasing an additional 1,309 shares during the last quarter. Victory Capital Management Inc. boosted its position in Ameriprise Financial by 87.9% in the second quarter. Victory Capital Management Inc. now owns 156,209 shares of the financial services provider’s stock worth $22,675,000 after purchasing an additional 73,095 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ameriprise Financial in the second quarter worth $1,007,000. DekaBank Deutsche Girozentrale boosted its position in Ameriprise Financial by 235.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 46,784 shares of the financial services provider’s stock worth $6,844,000 after purchasing an additional 32,817 shares during the last quarter. Finally, PhiloSmith Capital Corp purchased a new position in Ameriprise Financial in the third quarter worth $7,017,000. 82.72% of the stock is currently owned by institutional investors.

Shares of NYSE AMP traded up $0.80 during trading on Friday, reaching $158.54. 847,458 shares of the stock traded hands, compared to its average volume of 961,385. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $160.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.83 and a quick ratio of 0.78. The company has a 50-day moving average of $144.96 and a 200-day moving average of $143.06. The stock has a market capitalization of $20.72 billion, a P/E ratio of 10.61 and a beta of 1.85.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.15. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the firm earned $3.74 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 16.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.45%. Ameriprise Financial’s dividend payout ratio is presently 25.97%.

In other news, insider John Robert Woerner sold 6,477 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total transaction of $998,300.01. Following the transaction, the insider now owns 27,196 shares of the company’s stock, valued at approximately $4,191,719.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the company. Citigroup cut their price objective on Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Morgan Stanley cut their price objective on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 16th. ValuEngine cut Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada set a $145.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Ameriprise Financial currently has an average rating of “Buy” and an average target price of $173.00.

About Ameriprise Financial

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

Further Reading: How do taxes affect a CDs total return?

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, Inc. (NYSE:AMP).

Institutional Ownership by Quarter 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.