Banque Pictet & Cie SA Buys 2,181 Shares of Ameriprise Financial, Inc. $AMP

Banque Pictet & Cie SA lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,757 shares of the financial services provider’s stock after purchasing an additional 2,181 shares during the period. Banque Pictet & Cie SA’s holdings in Ameriprise Financial were worth $11,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMP. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth about $30,000. Heartwood Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 3rd quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. WFA of San Diego LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $36,000. Finally, Salomon & Ludwin LLC raised its position in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Stock Performance

Shares of AMP opened at $437.03 on Thursday. 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 business’s 50 day moving average price is $474.82 and its 200-day moving average price is $479.09. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The stock has a market cap of $39.85 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.03 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 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 for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $9.54 EPS. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s payout ratio is presently 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.