Stevens Capital Management LP lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 77.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,760 shares of the financial services provider’s stock after selling 20,254 shares during the period. Stevens Capital Management LP’s holdings in Ameriprise Financial were worth $747,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of 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 worth $108,000 after buying an additional 4 shares during the period. Dubuque Bank & Trust Co. boosted its position 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 worth $124,000 after buying an additional 22 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Ameriprise Financial during the first quarter worth $125,000. Virtus Investment Advisers Inc. bought a new position in Ameriprise Financial during the third quarter worth $133,000. Finally, SRB Corp boosted its position in Ameriprise Financial by 10.7% in the third quarter. SRB Corp now owns 1,606 shares of the financial services provider’s stock worth $160,000 after buying an additional 155 shares in the last quarter. 78.42% of the stock is currently owned by hedge funds and other institutional investors.
Ameriprise Financial, Inc. (NYSE AMP) traded up 0.29% during trading on Monday, reaching $123.03. 326,376 shares of the company were exchanged. The stock has a market capitalization of $18.76 billion, a PE ratio of 14.97 and a beta of 1.77. Ameriprise Financial, Inc. has a 52-week low of $84.92 and a 52-week high of $135.20. The firm’s 50 day moving average is $126.65 and its 200 day moving average is $122.44.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share 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 company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business earned $2.17 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post $10.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 38.36%.
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AMP has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Monday, February 6th. William Blair initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 2nd. They issued an “outperform” rating and a $138.80 target price for the company. Citigroup Inc reiterated a “buy” rating on shares of Ameriprise Financial in a research report on Monday, April 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $140.00 price objective (up previously from $137.00) on shares of Ameriprise Financial in a report on Thursday, April 20th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $130.00 price objective (up previously from $127.00) on shares of Ameriprise Financial in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $129.07.
In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction 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 completion of the transaction, the chief executive officer now owns 10,370 shares in the company, valued at approximately $1,396,113.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kelli A. Hunter sold 943 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $128.80, for a total value of $121,458.40. Following the sale, the vice president now owns 39,919 shares of the company’s stock, valued at approximately $5,141,567.20. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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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