Investors bought shares of Ameriprise Financial, Inc. (NYSE:AMP) on weakness during trading on Tuesday. $86.60 million flowed into the stock on the tick-up and $25.38 million flowed out of the stock on the tick-down, for a money net flow of $61.22 million into the stock. Of all equities tracked, Ameriprise Financial had the 20th highest net in-flow for the day. Ameriprise Financial traded down ($0.97) for the day and closed at $158.91
A number of research firms have commented on AMP. Deutsche Bank began coverage on shares of Ameriprise Financial in a research report on Friday, March 2nd. They set a “buy” rating for the company. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Sandler O’Neill set a $165.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Monday, February 12th. Morgan Stanley lifted their price objective 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. Finally, UBS Group began coverage on shares of Ameriprise Financial in a research report on Friday, March 2nd. They set a “buy” rating and a $217.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ameriprise Financial presently has a consensus rating of “Buy” and an average target price of $173.67.
The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $23,575.58, a price-to-earnings ratio of 16.83 and a beta of 1.84.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the business posted $2.46 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. analysts anticipate that Ameriprise Financial, Inc. will post 14.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, February 15th. Ameriprise Financial’s dividend payout ratio is currently 35.17%.
In other news, EVP Randy Kupper sold 4,381 shares of Ameriprise Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $159.61, for a total transaction of $699,251.41. Following the completion of the sale, the executive vice president now owns 21,607 shares of the company’s stock, valued at $3,448,693.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 31,379 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $173.64, for a total value of $5,448,649.56. Following the sale, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. Insiders have sold 46,077 shares of company stock valued at $7,931,285 in the last three months. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AMP. Alps Advisors Inc. raised its stake in Ameriprise Financial by 23.4% in the third quarter. Alps Advisors Inc. now owns 3,476 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 660 shares in the last quarter. FDx Advisors Inc. raised its stake in Ameriprise Financial by 14.0% in the third quarter. FDx Advisors Inc. now owns 8,724 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 1,074 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Ameriprise Financial by 188.1% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 61,011 shares of the financial services provider’s stock valued at $9,042,000 after purchasing an additional 39,832 shares in the last quarter. New York State Common Retirement Fund raised its stake in Ameriprise Financial by 12.7% in the third quarter. New York State Common Retirement Fund now owns 394,918 shares of the financial services provider’s stock valued at $58,649,000 after purchasing an additional 44,418 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in Ameriprise Financial in the third quarter valued at about $452,000. 86.73% of the stock is owned by institutional investors and hedge funds.
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About Ameriprise Financial
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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