Ameriprise Financial, Inc. $AMP Shares Bought by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management Ltd increased its stake in Ameriprise Financial by 13.8% in the fourth quarter, adding 4,876 shares to bring its total to 40,163 shares worth about $19.7 million.
• Ameriprise reported strong quarterly earnings of $11.26 per share, topping estimates by $1.05, while revenue rose 9.7% year over year to $4.77 billion despite coming in slightly below analyst expectations.
• The company raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently rate the stock a consensus “Hold” with an average price target of $543.22.

Swiss Life Asset Management Ltd grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,163 shares of the financial services provider's stock after purchasing an additional 4,876 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Ameriprise Financial were worth $19,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMP. PFG Investments LLC increased its position in shares of Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock worth $729,000 after acquiring an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock worth $297,000 after acquiring an additional 21 shares during the last quarter. EPG Wealth Management LLC increased its position in shares of Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock worth $1,331,000 after acquiring an additional 21 shares during the last quarter. UMB Bank n.a. increased its position in shares of Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider's stock worth $1,504,000 after acquiring an additional 23 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock worth $239,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 0.4%

Shares of Ameriprise Financial stock opened at $463.47 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a market cap of $41.67 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.10 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The business has a 50-day moving average price of $454.42 and a 200 day moving average price of $473.82.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $9.50 earnings per share. Ameriprise Financial's quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be paid a $1.70 dividend. The ex-dividend date is Monday, May 4th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial's payout ratio is presently 16.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMP shares. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a "strong-buy" rating in a research report on Wednesday, February 11th. Morgan Stanley lifted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating on the stock. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus price target of $543.22.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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