Intech Investment Management LLC Has $2.26 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Intech Investment Management LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 92.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,607 shares of the financial services provider’s stock after acquiring an additional 2,217 shares during the quarter. Intech Investment Management LLC’s holdings in Ameriprise Financial were worth $2,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. Winnow Wealth LLC acquired a new stake in Ameriprise Financial in the second quarter valued at $32,000. Heartwood Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth approximately $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the second quarter worth $36,000. Finally, Hantz Financial Services Inc. lifted its position in Ameriprise Financial by 60.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 85 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 32 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Argus cut their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $555.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.57% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 2.2%

Shares of NYSE AMP opened at $464.82 on Wednesday. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.11 and a beta of 1.27. The firm’s fifty day moving average is $497.90 and its 200 day moving average is $487.74. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the firm earned $9.54 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect 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 Friday, February 27th. Stockholders of record on Monday, February 9th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

About Ameriprise Financial

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.