Asset Management One Co. Ltd. Acquires 3,974 Shares of Ameriprise Financial, Inc. $AMP

Asset Management One Co. Ltd. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 46,084 shares of the financial services provider’s stock after purchasing an additional 3,974 shares during the period. Asset Management One Co. Ltd.’s holdings in Ameriprise Financial were worth $22,639,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after acquiring an additional 111,386 shares during the period. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares during the period. Geode Capital Management LLC lifted its position in Ameriprise Financial by 1.7% in the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after purchasing an additional 47,584 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after purchasing an additional 796,925 shares during the period. Finally, Norges Bank bought a new position in shares of Ameriprise Financial in the second quarter worth approximately $693,736,000. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Evercore ISI decreased their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Argus dropped their target price 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. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned 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 $528.75.

Ameriprise Financial Stock Performance

Shares of AMP opened at $507.88 on Tuesday. The company has a 50-day simple moving average of $472.78 and a two-hundred day simple moving average of $495.28. 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 $47.19 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.23 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 posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.02 EPS. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders 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 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.