Ameriprise Financial, Inc. $AMP Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 43.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,279 shares of the financial services provider’s stock after purchasing an additional 11,504 shares during the period. Allianz Asset Management GmbH’s holdings in Ameriprise Financial were worth $18,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. Jones Financial Companies Lllp increased its position in Ameriprise Financial by 17.6% during the third quarter. Jones Financial Companies Lllp now owns 3,227 shares of the financial services provider’s stock worth $1,609,000 after buying an additional 484 shares in the last quarter. Arjuna Capital boosted its stake in shares of Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock valued at $6,196,000 after acquiring an additional 1,610 shares during the last quarter. Howard Bailey Securities LLC increased its position in Ameriprise Financial by 6.6% during the 3rd quarter. Howard Bailey Securities LLC now owns 548 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 34 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in Ameriprise Financial by 23.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 47,758 shares of the financial services provider’s stock valued at $23,859,000 after purchasing an additional 8,927 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Ameriprise Financial by 0.8% in the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods lowered their target price 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 reduced their price target 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Trading Up 1.6%

AMP stock opened at $543.46 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market cap of $50.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.25 and a beta of 1.26. The business has a fifty day simple moving average of $499.62 and a 200-day simple moving average of $492.31. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.54 earnings per share. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

About Ameriprise Financial

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.