Strs Ohio Takes $6.44 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• Strs Ohio has acquired a new stake in Ameriprise Financial, Inc. valued at approximately $6.44 million by purchasing 13,300 shares.
• Ameriprise Financial reported a quarterly earnings per share of $9.11, exceeding analysts' expectations, with a revenue of $4.49 billion for the same period.
• The company declared a quarterly dividend of $1.60 per share, representing an annual dividend of $6.40 with a yield of 1.3%.

Strs Ohio acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,300 shares of the financial services provider's stock, valued at approximately $6,439,000.

Several other institutional investors have also added to or reduced their stakes in the company. Plancorp LLC boosted its position in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after buying an additional 20 shares during the period. Forum Financial Management LP lifted its position in shares of Ameriprise Financial by 1.4% in the 4th quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after purchasing an additional 21 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Ameriprise Financial by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock worth $665,000 after acquiring an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Ameriprise Financial by 3.0% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider's stock worth $345,000 after acquiring an additional 21 shares in the last quarter. Finally, Argent Trust Co increased its stake in shares of Ameriprise Financial by 1.3% in the 1st quarter. Argent Trust Co now owns 1,698 shares of the financial services provider's stock worth $822,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 0.8%

NYSE:AMP opened at $497.15 on Monday. The firm has a market cap of $46.87 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm has a 50-day simple moving average of $515.73 and a two-hundred day simple moving average of $502.73.

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

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Keefe, Bruyette & Woods increased 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. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Finally, Morgan Stanley lowered shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $534.71.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated 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 owned 11,047 shares of the company's stock, 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 SEC, which is available through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

About Ameriprise Financial

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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