IBM Retirement Fund decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 88.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,630 shares of the financial services provider’s stock after selling 13,070 shares during the period. IBM Retirement Fund’s holdings in Ameriprise Financial were worth $282,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Ameriprise Financial by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in Ameriprise Financial by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Ameriprise Financial during the first quarter valued at $124,000. State of Alaska Department of Revenue purchased a new stake in Ameriprise Financial during the first quarter valued at $125,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in Ameriprise Financial during the third quarter valued at $133,000. Institutional investors and hedge funds own 78.42% of the company’s stock.
Shares of Ameriprise Financial, Inc. (NYSE:AMP) traded down 1.12% during trading on Tuesday, hitting $120.84. The stock had a trading volume of 241,670 shares. The stock’s 50-day moving average is $126.52 and its 200-day moving average is $122.63. Ameriprise Financial, Inc. has a 12-month low of $84.92 and a 12-month high of $135.20. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 14.71 and a beta of 1.77.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.18. Ameriprise Financial had a return on equity of 23.18% and a net margin of 11.23%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the company posted $2.17 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post $10.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.75. Ameriprise Financial’s payout ratio is currently 38.36%.
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Several research firms have weighed in on AMP. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Monday, February 6th. Deutsche Bank AG reiterated a “hold” rating and set a $140.00 price target (up previously from $137.00) on shares of Ameriprise Financial in a research note on Thursday, April 20th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $127.00 price target (up previously from $124.00) on shares of Ameriprise Financial in a research note on Wednesday, April 26th. Citigroup Inc reiterated a “buy” rating on shares of Ameriprise Financial in a research note on Monday, April 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and set a $130.00 price target (up previously from $127.00) on shares of Ameriprise Financial in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $129.07.
In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $134.63, for a total value of $1,077,040.00. Following the sale, the chief executive officer now owns 10,370 shares of the company’s stock, valued at approximately $1,396,113.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kelli A. Hunter sold 943 shares of Ameriprise Financial stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $128.80, for a total value of $121,458.40. Following the completion of the sale, the vice president now directly owns 39,919 shares in the company, valued at approximately $5,141,567.20. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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