California Public Employees Retirement System lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% during the fourth quarter, Holdings Channel reports. The fund owned 439,227 shares of the financial services provider’s stock after purchasing an additional 5,156 shares during the quarter. California Public Employees Retirement System’s holdings in Ameriprise Financial were worth $74,436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. Victory Capital Management Inc. increased its stake in shares of Ameriprise Financial by 499.6% in the third quarter. Victory Capital Management Inc. now owns 552,144 shares of the financial services provider’s stock worth $81,999,000 after acquiring an additional 460,058 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Ameriprise Financial by 147.7% in the third quarter. Canada Pension Plan Investment Board now owns 504,364 shares of the financial services provider’s stock worth $74,903,000 after acquiring an additional 300,748 shares during the last quarter. Renaissance Group LLC increased its stake in shares of Ameriprise Financial by 12,127.8% in the third quarter. Renaissance Group LLC now owns 219,978 shares of the financial services provider’s stock worth $32,669,000 after acquiring an additional 218,179 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Ameriprise Financial by 227.1% in the third quarter. BNP Paribas Arbitrage SA now owns 291,634 shares of the financial services provider’s stock worth $43,311,000 after acquiring an additional 202,466 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ameriprise Financial in the third quarter worth $22,262,000. 80.68% of the stock is currently owned by institutional investors and hedge funds.
Ameriprise Financial, Inc. (AMP) opened at $153.88 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.85. The company has a market cap of $22,760.00, a price-to-earnings ratio of 16.32 and a beta of 1.85. Ameriprise Financial, Inc. has a 1 year low of $118.84 and a 1 year high of $183.90.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($1.90). The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 earnings per share. equities analysts anticipate that Ameriprise Financial, Inc. will post 14.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 15th. Ameriprise Financial’s payout ratio is 35.21%.
In other Ameriprise Financial news, insider David Kent Stewart sold 603 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $160.72, for a total transaction of $96,914.16. Following the completion of the sale, the insider now directly owns 20,081 shares in the company, valued at $3,227,418.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $174.04, for a total transaction of $957,220.00. Following the sale, the executive vice president now owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The disclosure for this sale can be found here. Insiders have sold 49,628 shares of company stock worth $8,570,993 over the last three months. Company insiders own 1.50% of the company’s stock.
AMP has been the topic of a number of research reports. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Wednesday, January 10th. Royal Bank of Canada set a $168.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. SunTrust Banks increased their target price on shares of Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $164.98.
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Ameriprise Financial Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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