D.A. Davidson & CO. Raises Holdings in Ameriprise Financial, Inc. $AMP

D.A. Davidson & CO. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,180 shares of the financial services provider’s stock after purchasing an additional 1,199 shares during the quarter. D.A. Davidson & CO.’s holdings in Ameriprise Financial were worth $3,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $6,635,471,000 after acquiring an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 7.7% in the second 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 last quarter. Geode Capital Management LLC raised its stake in Ameriprise Financial by 1.7% during 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 in the last quarter. Norges Bank bought a new position in Ameriprise Financial during the second quarter valued at $693,736,000. Finally, Boston Partners grew its stake in shares of Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after buying an additional 35,500 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 1.1%

Shares of AMP opened at $503.48 on Friday. The firm has a fifty day moving average price of $474.71 and a 200-day moving average price of $495.36. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $46.78 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $9.02 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors 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 dividend yield of 1.3%. Ameriprise Financial’s payout ratio is presently 17.55%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. 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 report on Thursday, November 13th. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. One equities research 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. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $528.75.

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.