BLI Banque de Luxembourg Investments Acquires New Shares in Ameriprise Financial, Inc. $AMP

BLI Banque de Luxembourg Investments bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,300 shares of the financial services provider’s stock, valued at approximately $2,270,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. West Family Investments Inc. acquired a new position in Ameriprise Financial in the second quarter worth approximately $217,000. Mackenzie Financial Corp grew its position in Ameriprise Financial by 2.3% in the second quarter. Mackenzie Financial Corp now owns 11,679 shares of the financial services provider’s stock worth $6,233,000 after acquiring an additional 259 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in shares of Ameriprise Financial by 19.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 2,973 shares of the financial services provider’s stock worth $1,587,000 after purchasing an additional 487 shares during the last quarter. Norges Bank acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $693,736,000. Finally, Level Four Advisory Services LLC raised its holdings in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Level Four Advisory Services LLC now owns 11,552 shares of the financial services provider’s stock valued at $6,166,000 after purchasing an additional 67 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Friday. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Finally, BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Price Performance

NYSE AMP opened at $455.74 on Monday. The stock has a 50-day simple moving average of $471.66 and a 200 day simple moving average of $499.67. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a market capitalization of $42.34 billion, a PE ratio of 14.18, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.02 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is 17.55%.

Ameriprise Financial Company Profile

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.