Ameriprise Financial, Inc. $AMP Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ameriprise Financial by 5.7%, acquiring an additional 606 shares during Q1, bringing its total holdings to $5.425 million.
• Several institutional investors have significantly boosted their positions in the company, with GAMMA Investing LLC increasing its stake by 49,248.9% to hold over $1 billion in shares.
• Ameriprise Financial reported $9.11 EPS for the last quarter, beating analysts’ expectations, and declared a quarterly dividend of $1.60 per share, resulting in a yield of 1.3%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,207 shares of the financial services provider's stock after buying an additional 606 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Ameriprise Financial were worth $5,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. GAMMA Investing LLC grew its position in Ameriprise Financial by 49,248.9% during the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after acquiring an additional 2,109,824 shares during the period. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock valued at $2,819,900,000 after acquiring an additional 1,023,002 shares during the period. Nuveen LLC purchased a new stake in Ameriprise Financial during the first quarter valued at about $469,334,000. Goldman Sachs Group Inc. grew its position in Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after acquiring an additional 266,631 shares during the period. Finally, AQR Capital Management LLC grew its stake in Ameriprise Financial by 78.6% during the first quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider's stock worth $202,869,000 after buying an additional 189,525 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 1.8%

Shares of AMP opened at $500.85 on Friday. The company has a market capitalization of $47.22 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.05 and a beta of 1.27. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50-day moving average price of $516.65 and a 200 day moving average price of $503.22.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the business posted $8.72 earnings per share. Ameriprise Financial's revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research reports. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $534.71.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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