Kathmere Capital Management LLC Boosts Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Kathmere Capital Management LLC increased its holdings in Ameriprise Financial by 70.2% in Q2, owning 1,227 shares valued at $655,000 at the end of the quarter.
• Institutional investors and hedge funds collectively own 83.95% of Ameriprise Financial's stock, indicating strong institutional interest in the company.
• Ameriprise Financial reported $9.11 EPS for the last quarter, beating the consensus estimate by $0.11, with revenue exceeding expectations at $4.49 billion.

Kathmere Capital Management LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 70.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,227 shares of the financial services provider's stock after acquiring an additional 506 shares during the period. Kathmere Capital Management LLC's holdings in Ameriprise Financial were worth $655,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 21.3% during 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 purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at about $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ameriprise Financial by 55.0% during the 1st 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 acquiring an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after buying an additional 266,631 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Ameriprise Financial by 78.6% in the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider's stock valued at $202,869,000 after buying an additional 189,525 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $499.09 on Friday. The stock has a market cap of $47.05 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The company has a fifty day simple moving average of $506.68 and a 200-day simple moving average of $501.97. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the business earned $8.72 EPS. Ameriprise Financial's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMP. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Raymond James Financial increased their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $544.50.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents 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 owned by company insiders.

Ameriprise Financial Profile

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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