Van ECK Associates Corp Acquires 1,179 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Van ECK Associates Corp increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,279 shares of the financial services provider’s stock after purchasing an additional 1,179 shares during the period. Van ECK Associates Corp’s holdings in Ameriprise Financial were worth $8,014,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Gotham Asset Management LLC increased its stake in Ameriprise Financial by 12.3% in the third quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 120 shares in the last quarter. AQR Capital Management LLC raised its stake in Ameriprise Financial by 3.8% during the 3rd quarter. AQR Capital Management LLC now owns 62,243 shares of the financial services provider’s stock worth $20,520,000 after buying an additional 2,274 shares during the period. Seven Eight Capital LP boosted its holdings in Ameriprise Financial by 33.0% in the third quarter. Seven Eight Capital LP now owns 3,641 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 903 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Ameriprise Financial by 14.0% in the third quarter. Royal London Asset Management Ltd. now owns 39,602 shares of the financial services provider’s stock valued at $13,060,000 after acquiring an additional 4,850 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after acquiring an additional 20,970 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 0.4 %

Ameriprise Financial stock opened at $432.24 on Friday. The firm has a 50 day moving average price of $430.62 and a 200-day moving average price of $412.29. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $446.32. The company has a market capitalization of $42.93 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.74 and a beta of 1.37.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company earned $7.25 earnings per share. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.37%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $456.22.

Get Our Latest Report 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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