Argus Investors Counsel Inc. Makes New $202,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Argus Investors Counsel Inc. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 531 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other institutional investors also recently added to or reduced their stakes in AMP. Moneta Group Investment Advisors LLC boosted its position in Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock worth $494,335,000 after acquiring an additional 1,586,121 shares during the period. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $389,527,000. Nuveen Asset Management LLC raised its position in shares of Ameriprise Financial by 29.7% during the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock worth $555,952,000 after purchasing an additional 382,811 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ameriprise Financial by 123.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 498,824 shares of the financial services provider’s stock worth $155,318,000 after purchasing an additional 275,720 shares during the period. Finally, Invesco Ltd. raised its position in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock worth $324,031,000 after purchasing an additional 270,755 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $438.44 on Monday. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 0.81 and a beta of 1.36. The business’s 50-day simple moving average is $406.88 and its 200-day simple moving average is $368.87. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.64.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $6.94 EPS. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.2 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 in the last 90 days. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMP shares. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Morgan Stanley upped their price target on Ameriprise Financial from $394.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada boosted their target price on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $428.83.

Get Our Latest Stock Analysis on AMP

About Ameriprise Financial

(Free Report)

Ameriprise Financial, Inc, together with 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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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