Assenagon Asset Management S.A. Raises Stake in Ameriprise Financial, Inc. $AMP

Assenagon Asset Management S.A. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 40.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,903 shares of the financial services provider’s stock after purchasing an additional 37,667 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Ameriprise Financial worth $64,797,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its position in Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 19 shares during the period. Plancorp LLC boosted its holdings in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 20 shares during the period. Old Port Advisors grew its position in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in Ameriprise Financial by 0.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 20 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in Ameriprise Financial by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMP. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Finally, Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Stock Performance

Shares of AMP opened at $487.55 on Thursday. The company has a 50-day simple moving average of $468.27 and a two-hundred day simple moving average of $496.77. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $45.30 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.02 EPS. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $1.60 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 17.55%.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.