CSM Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 32.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,596 shares of the financial services provider's stock after acquiring an additional 13,193 shares during the quarter. CSM Advisors LLC owned approximately 0.06% of Ameriprise Financial worth $26,334,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Ameriprise Financial during the third quarter valued at $13,755,000. Clark Capital Management Group Inc. boosted its position in shares of Ameriprise Financial by 19.0% in the 3rd quarter. Clark Capital Management Group Inc. now owns 882 shares of the financial services provider's stock valued at $433,000 after purchasing an additional 141 shares during the period. Ausdal Financial Partners Inc. increased its stake in Ameriprise Financial by 24.3% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 1,146 shares of the financial services provider's stock worth $563,000 after purchasing an additional 224 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth about $788,000. Finally, California Public Employees Retirement System raised its holdings in Ameriprise Financial by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 180,318 shares of the financial services provider's stock worth $88,581,000 after buying an additional 2,528 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Trading Up 0.4%
Shares of NYSE AMP opened at $442.03 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. The firm has a market capitalization of $40.30 billion, a PE ratio of 12.16, a PEG ratio of 1.03 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $491.57 and a two-hundred day moving average price of $484.96.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts' consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.54 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial's payout ratio is presently 17.60%.
Insider Buying and Selling at Ameriprise Financial
In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company's stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the company's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an "underweight" rating in a report on Monday, December 22nd. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $555.67.
View Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).
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