Neuburgh Advisers LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,988 shares of the financial services provider’s stock after buying an additional 1,100 shares during the period. Neuburgh Advisers LLC’s holdings in Ameriprise Financial were worth $4,148,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AMP. YorkBridge Wealth Partners LLC increased its stake in Ameriprise Financial by 4.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 2,157 shares of the financial services provider’s stock valued at $278,000 after buying an additional 100 shares during the period. FormulaFolio Investments LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at approximately $631,000. TD Asset Management Inc. boosted its position in shares of Ameriprise Financial by 11.6% in the first quarter. TD Asset Management Inc. now owns 431,430 shares of the financial services provider’s stock valued at $55,948,000 after buying an additional 44,864 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at approximately $1,383,000. Finally, Sei Investments Co. boosted its position in shares of Ameriprise Financial by 6.0% in the first quarter. Sei Investments Co. now owns 217,516 shares of the financial services provider’s stock valued at $28,208,000 after buying an additional 12,307 shares in the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
Shares of Ameriprise Financial, Inc. (NYSE AMP) opened at 126.49 on Friday. Ameriprise Financial, Inc. has a one year low of $84.92 and a one year high of $135.20. The stock has a market cap of $19.28 billion, a P/E ratio of 15.40 and a beta of 1.77. The firm has a 50 day moving average of $126.00 and a 200 day moving average of $122.77.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Monday, April 24th. The financial services provider reported $2.70 EPS for the quarter, beating the consensus estimate of $2.52 by $0.18. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.89 billion. Ameriprise Financial had a return on equity of 23.18% and a net margin of 11.23%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post $10.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were issued a dividend of $0.83 per share. 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. This represents a $3.32 annualized dividend and a yield of 2.62%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 38.36%.
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Several equities research analysts have recently issued reports on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $140.00 price objective (up from $137.00) on shares of Ameriprise Financial in a research report on Thursday, April 20th. William Blair began coverage on shares of Ameriprise Financial in a research report on Thursday, March 2nd. They set an “outperform” rating and a $138.80 price objective for the company. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Monday, April 10th. Barclays PLC reissued an “equal weight” rating and issued a $130.00 price target (up from $127.00) on shares of Ameriprise Financial in a research report on Tuesday, April 25th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $127.00 price target (up from $124.00) on shares of Ameriprise Financial in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s 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 the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $134.63, for a total transaction of $1,077,040.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kelli A. Hunter sold 943 shares of the firm’s stock in a transaction 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 sale, the vice president now directly 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.
About Ameriprise Financial
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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