Pitcairn Co. increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 32.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,630 shares of the financial services provider’s stock after buying an additional 4,104 shares during the period. Pitcairn Co.’s holdings in Ameriprise Financial were worth $2,157,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. 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 valued at $108,000 after buying an additional 4 shares in the last quarter. Dubuque Bank & Trust Co. increased its stake in shares of 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 in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Ameriprise Financial during the first quarter valued at about $125,000. Virtus Investment Advisers Inc. bought a new stake in shares of Ameriprise Financial during the third quarter valued at about $133,000. Finally, SRB Corp increased its stake in shares of Ameriprise Financial by 10.7% in the third quarter. SRB Corp now owns 1,606 shares of the financial services provider’s stock valued at $160,000 after buying an additional 155 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) traded down 0.37% during trading on Friday, reaching $122.67. 1,560,035 shares of the company’s stock were exchanged. Ameriprise Financial, Inc. has a 52-week low of $84.92 and a 52-week high of $135.20. The company has a 50 day moving average price of $126.65 and a 200-day moving average price of $122.44. The company has a market capitalization of $18.70 billion, a PE ratio of 14.93 and a beta of 1.77.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.18. Ameriprise Financial had a net margin of 11.23% and a return on equity of 23.18%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the business earned $2.17 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post $10.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were given a $0.83 dividend. 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. This represents a $3.32 dividend on an annualized basis and a yield of 2.71%. Ameriprise Financial’s payout ratio is 38.36%.
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Several analysts recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and issued a $140.00 price target (up from $137.00) on shares of Ameriprise Financial in a report on Thursday, April 20th. William Blair initiated coverage on Ameriprise Financial in a research note on Thursday, March 2nd. They set an “outperform” rating and a $138.80 target price for the company. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Monday, April 10th. Barclays PLC reaffirmed an “equal weight” rating and set a $130.00 price target (up previously from $127.00) on shares of Ameriprise Financial in a research report on Tuesday, April 25th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $127.00 price target (up previously from $124.00) on shares of Ameriprise Financial in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Ameriprise Financial currently has an average rating of “Hold” and an average target price of $129.07.
In other Ameriprise Financial news, 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 value of $121,458.40. Following the transaction, the vice president now directly owns 39,919 shares in the company, valued at $5,141,567.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction 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 $1,396,113.10. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
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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