Applied Finance Capital Management LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,320 shares of the financial services provider's stock after buying an additional 5,667 shares during the period. Ameriprise Financial makes up approximately 1.8% of Applied Finance Capital Management LLC's portfolio, making the stock its 17th largest position. Applied Finance Capital Management LLC owned about 0.05% of Ameriprise Financial worth $26,856,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Ameriprise Financial by 55.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock valued at $1,086,724,000 after purchasing an additional 796,925 shares during the period. Goldman Sachs Group Inc. raised its position in Ameriprise Financial by 28.7% in 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 purchasing an additional 266,631 shares during the period. Nuveen LLC acquired a new position in Ameriprise Financial during the first quarter worth $469,334,000. Finally, Royal Bank of Canada boosted its position in shares of Ameriprise Financial by 1.1% during the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider's stock worth $354,870,000 after buying an additional 7,840 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.
Ameriprise Financial Price Performance
Shares of AMP opened at $467.45 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The stock has a market cap of $44.07 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26. The firm has a fifty day moving average price of $498.39 and a 200 day moving average price of $501.36.
Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping 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 business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the firm earned $8.72 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial's payout ratio is currently 19.91%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AMP. Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI lowered their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating for the company in a research note on Thursday, October 9th. Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $539.50.
View Our Latest Report on Ameriprise Financial
About Ameriprise Financial
(
Free Report)
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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