Ameriprise Financial, Inc. $AMP Stock Position Raised by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,237 shares of the financial services provider’s stock after buying an additional 1,406 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Ameriprise Financial were worth $4,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Birch Financial Group LLC lifted its stake in Ameriprise Financial by 0.8% in the third quarter. Birch Financial Group LLC now owns 10,148 shares of the financial services provider’s stock valued at $4,985,000 after acquiring an additional 83 shares during the last quarter. Westfuller Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth $76,000. Teacher Retirement System of Texas raised its holdings in shares of Ameriprise Financial by 14.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 32,248 shares of the financial services provider’s stock valued at $15,842,000 after purchasing an additional 4,077 shares in the last quarter. Quadrant Private Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $226,000. Finally, Covestor Ltd boosted its holdings in Ameriprise Financial by 31.3% in the third quarter. Covestor Ltd now owns 126 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AMP shares. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada decreased their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $528.75.

Ameriprise Financial Trading Down 2.3%

Ameriprise Financial stock opened at $496.29 on Monday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $46.11 billion, a PE ratio of 13.61, a PEG ratio of 1.28 and a beta of 1.26. The business’s 50-day simple moving average is $484.70 and its 200-day simple moving average is $492.59.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.02 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is 17.55%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.