Deutsche Bank AG Has $366.22 Million Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Deutsche Bank reduced its Ameriprise Financial stake by 12% in the second quarter, selling 109,171 shares and retaining 798,290 shares worth approximately $366.2 million. Institutional investors collectively own 83.95% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $555.33. Ratings range from Strong Buy to Sell.
• Ameriprise exceeded quarterly earnings expectations, reporting $11.07 in EPS and $4.90 billion in revenue, while revenue rose 11.6% year over year. The company also declared a $1.70 quarterly dividend, equivalent to a 1.2% annual yield.

Deutsche Bank AG decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 798,290 shares of the financial services provider's stock after selling 109,171 shares during the quarter. Deutsche Bank AG owned 0.89% of Ameriprise Financial worth $366,224,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock valued at $98,388,000 after acquiring an additional 10,782 shares during the last quarter. National Pension Service lifted its stake in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock valued at $81,172,000 after purchasing an additional 12,563 shares during the period. LSV Asset Management boosted its position in shares of Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock worth $133,381,000 after purchasing an additional 3,548 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Ameriprise Financial in the fourth quarter valued at about $72,050,000. Finally, D.A. Davidson & CO. lifted its stake in Ameriprise Financial by 116.5% in the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider's stock valued at $6,561,000 after buying an additional 7,200 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Get Ameriprise Financial SMS alerts:

Sign Up

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMP shares. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a report on Friday, July 10th. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares in the company, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Down 1.4%

NYSE:AMP opened at $561.83 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The firm has a market capitalization of $50.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock's 50 day moving average price is $509.29 and its two-hundred day moving average price is $480.60.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter last year, the company posted $9.11 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source