Handelsbanken Fonder AB Purchases 4,005 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Handelsbanken Fonder AB increased its stake in Ameriprise Financial by 13.3% in the fourth quarter, buying 4,005 additional shares and bringing its total holding to 34,025 shares worth about $16.7 million.
• Ameriprise shares were down 1.4% to $457.39, while the company reported strong quarterly results with EPS of $11.26, beating estimates, and revenue up 9.7% year over year.
• The company raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently have a consensus rating of Hold with an average price target of $543.22.

Handelsbanken Fonder AB boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,025 shares of the financial services provider's stock after acquiring an additional 4,005 shares during the period. Handelsbanken Fonder AB's holdings in Ameriprise Financial were worth $16,684,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMP. Brighton Jones LLC boosted its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares during the last quarter. Empowered Funds LLC boosted its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after acquiring an additional 634 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial in the second quarter valued at about $313,000. Finally, Gabelli Funds LLC boosted its holdings in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after acquiring an additional 2,922 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 1.4%

NYSE:AMP opened at $457.39 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $41.12 billion, a PE ratio of 11.38, a PEG ratio of 1.09 and a beta of 1.20. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock has a 50-day simple moving average of $454.40 and a 200 day simple moving average of $473.43.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted 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. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $9.50 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, May 4th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial's dividend payout ratio is 16.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Morgan Stanley increased their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reissued an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, BMO Capital Markets increased their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $543.22.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

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.

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