Stonegate Investment Group LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,908 shares of the financial services provider’s stock, valued at approximately $576,000.
Other large investors have also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC boosted its holdings in Ameriprise Financial by 4.5% during the third quarter. IndexIQ Advisors LLC now owns 2,006 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 87 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Ameriprise Financial by 41.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 19,886 shares of the financial services provider’s stock worth $5,252,000 after purchasing an additional 5,872 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Ameriprise Financial by 10.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 567,238 shares of the financial services provider’s stock valued at $149,819,000 after acquiring an additional 55,644 shares in the last quarter. CX Institutional boosted its holdings in Ameriprise Financial by 19.1% during the 3rd quarter. CX Institutional now owns 262 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 42 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Ameriprise Financial by 4.0% in the 3rd quarter. US Bancorp DE now owns 85,754 shares of the financial services provider’s stock worth $22,649,000 after buying an additional 3,333 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.
AMP has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Ameriprise Financial in a research note on Tuesday, April 26th. Morgan Stanley dropped their price objective on Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a report on Tuesday, April 26th. UBS Group dropped their target price on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, April 26th. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating and set a $316.00 price target for the company. in a report on Wednesday, April 6th. Finally, StockNews.com initiated coverage on Ameriprise Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $338.09.
Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The financial services provider reported $5.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.05. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.72 billion. Ameriprise Financial had a net margin of 22.45% and a return on equity of 50.02%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.43 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 25.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, May 9th will be given a dividend of $1.25 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, May 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. Ameriprise Financial’s dividend payout ratio is currently 19.20%.
Ameriprise Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 26th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, CFO Walter Stanley Berman sold 8,711 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $312.01, for a total value of $2,717,919.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Cracchiolo sold 56,622 shares of the company’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $314.16, for a total transaction of $17,788,367.52. The disclosure for this sale can be found here. Insiders have sold 67,377 shares of company stock valued at $21,148,716 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Ameriprise Financial Profile (Get Rating)
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
- Get a free copy of the StockNews.com research report on Ameriprise Financial (AMP)
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