Veriti Management LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,235 shares of the financial services provider’s stock after selling 74 shares during the period. Veriti Management LLC’s holdings in Ameriprise Financial were worth $972,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in AMP. Allspring Global Investments Holdings LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $7,156,000. Teacher Retirement System of Texas lifted its holdings in shares of Ameriprise Financial by 14.4% in the fourth quarter. Teacher Retirement System of Texas now owns 53,284 shares of the financial services provider’s stock valued at $16,074,000 after purchasing an additional 6,722 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $271,000. Fractal Investments LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $282,000. Finally, Asset Allocation & Management Company LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $1,056,000. 82.69% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on AMP. 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. StockNews.com started coverage on Ameriprise Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler dropped their price target on Ameriprise Financial from $275.00 to $253.00 and set an “underweight” rating on the stock in a report on Thursday, June 16th. Morgan Stanley dropped their price target on Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 26th. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and an average target price of $339.56.
Shares of AMP opened at $241.11 on Thursday. The firm has a market cap of $26.50 billion, a PE ratio of 9.26 and a beta of 1.49. The stock’s fifty day moving average price is $266.31 and its two-hundred day moving average price is $288.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.94 and a quick ratio of 0.94. Ameriprise Financial, Inc. has a 1 year low of $233.16 and a 1 year high of $332.37.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its earnings results on Monday, April 25th. The financial services provider reported $5.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.05. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.72 billion. Ameriprise Financial had a return on equity of 50.02% and a net margin of 22.45%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.43 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 25.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Monday, May 9th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.13. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. Ameriprise Financial’s payout ratio is presently 19.20%.
About Ameriprise Financial (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.
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