Peddock Capital Advisors LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,452 shares of the financial services provider’s stock after buying an additional 236 shares during the period. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial were worth $577,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of AMP. Norges Bank acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $1,057,281,000. State Street Corp raised its position in shares of Ameriprise Financial by 6.2% in the fourth quarter. State Street Corp now owns 8,434,256 shares of the financial services provider’s stock worth $935,690,000 after buying an additional 488,951 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ameriprise Financial by 54.6% in the first quarter. Bank of New York Mellon Corp now owns 3,906,928 shares of the financial services provider’s stock worth $506,651,000 after buying an additional 1,380,098 shares in the last quarter. LSV Asset Management raised its position in shares of Ameriprise Financial by 1.9% in the third quarter. LSV Asset Management now owns 2,770,096 shares of the financial services provider’s stock worth $276,372,000 after buying an additional 50,400 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its position in shares of Ameriprise Financial by 2.0% in the fourth quarter. Aristotle Capital Management LLC now owns 2,353,860 shares of the financial services provider’s stock worth $261,137,000 after buying an additional 46,165 shares in the last quarter. 78.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ameriprise Financial, Inc. (AMP) opened at 126.49 on Friday. The stock’s 50 day moving average price is $126.00 and its 200 day moving average price is $122.77. The firm has a market capitalization of $19.28 billion, a P/E ratio of 15.40 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.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.18. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Ameriprise Financial had a net margin of 11.23% and a return on equity of 23.18%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. On average, analysts predict that Ameriprise Financial, Inc. will post $10.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were paid a $0.83 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $3.32 dividend on an annualized basis and a yield of 2.62%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.75. Ameriprise Financial’s payout ratio is presently 38.36%.
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A number of brokerages have weighed in on AMP. Deutsche Bank AG reissued 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. William Blair initiated coverage on Ameriprise Financial in a report on Thursday, March 2nd. They set an “outperform” rating and a $138.80 price objective for the company. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Monday, April 10th. Barclays PLC restated an “equal weight” rating and set a $130.00 price objective (up from $127.00) on shares of Ameriprise Financial in a report on Tuesday, April 25th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 price objective (up from $124.00) on shares of Ameriprise Financial in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $129.07.
In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $134.63, for a total value of $1,077,040.00. Following the transaction, the chief executive officer now directly owns 10,370 shares in the company, valued at $1,396,113.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kelli A. Hunter sold 943 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $128.80, for a total transaction of $121,458.40. Following the completion of the transaction, the vice president now owns 39,919 shares in the company, valued at $5,141,567.20. The disclosure for this sale can be found here. 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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