BNP Paribas Financial Markets Purchases 79,462 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• BNP Paribas Financial Markets increased its stake in Ameriprise Financial by 56.7% in the fourth quarter, adding 79,462 shares to bring its total holding to 219,672 shares worth about $107.7 million.
• Ameriprise reported quarterly EPS of $11.26, beating analyst expectations of $10.21, while revenue rose 9.7% year over year to $4.77 billion. The company also posted strong profitability, with a return on equity of 62.88%.
• The company raised its quarterly dividend to $1.70 per share from $1.60, implying an annualized dividend of $6.80 and a yield of 1.5%. Meanwhile, insider sales were disclosed, including notable share reductions by an EVP and a director.

BNP Paribas Financial Markets raised its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 56.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 219,672 shares of the financial services provider's stock after acquiring an additional 79,462 shares during the period. BNP Paribas Financial Markets owned about 0.24% of Ameriprise Financial worth $107,714,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the third quarter valued at $32,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the fourth quarter valued at $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial in the second quarter valued at $36,000. Finally, Activest Wealth Management grew its position in Ameriprise Financial by 777.8% in the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.1%

Shares of Ameriprise Financial stock opened at $445.94 on Monday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The stock has a market cap of $40.09 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.05 and a beta of 1.16. 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 business's 50 day moving average is $455.29 and its 200-day moving average is $473.05.

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 (EPS) for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the business posted $9.50 EPS. The business's revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.91%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMP shares. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Weiss Ratings downgraded shares of Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley raised their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $543.22.

Insider Buying and Selling

In related news, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company's stock.

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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