First Business Financial Services Inc. boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,910 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. First Business Financial Services Inc.’s holdings in Ameriprise Financial were worth $722,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of AMP. Cornerstone Advisors Inc. grew its stake in shares of Ameriprise Financial by 15.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 541 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 71 shares during the period. NEXT Financial Group Inc grew its stake in Ameriprise Financial by 46.6% in the 2nd quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 75 shares during the period. Financial Advisors Network Inc. grew its stake in Ameriprise Financial by 3.1% in the 2nd quarter. Financial Advisors Network Inc. now owns 2,864 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 86 shares during the period. Huntington National Bank grew its stake in Ameriprise Financial by 1.5% in the 2nd quarter. Huntington National Bank now owns 6,092 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 90 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in Ameriprise Financial by 1.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,210 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 93 shares during the period. 82.72% of the stock is owned by institutional investors.
AMP stock traded up $0.80 during midday trading on Friday, reaching $158.54. The stock had a trading volume of 847,458 shares, compared to its average volume of 961,385. The company’s fifty day simple moving average is $144.96 and its 200 day simple moving average is $143.06. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.72 billion, a price-to-earnings ratio of 10.61 and a beta of 1.85. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $160.63.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.15. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3 billion. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.74 EPS. Sell-side analysts predict that Ameriprise Financial, Inc. will post 16.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.88 dividend on an annualized basis and a yield of 2.45%. Ameriprise Financial’s payout ratio is currently 25.97%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 16th. Citigroup dropped their price target on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada set a $145.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine cut shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. Finally, Morgan Stanley dropped their price target on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $173.00.
In other Ameriprise Financial news, insider John Robert Woerner sold 6,477 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total value of $998,300.01. Following the transaction, the insider now owns 27,196 shares in the company, valued at approximately $4,191,719.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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