Strategic Global Advisors LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,199 shares of the financial services provider’s stock, valued at approximately $6,055,000.
Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter valued at $742,438,000. Legal & General Group Plc purchased a new stake in Ameriprise Financial in the second quarter worth about $262,687,000. Hsbc Holdings PLC bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $248,547,000. Man Group plc bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $228,311,000. Finally, AQR Capital Management LLC grew its holdings in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Ameriprise Financial
Ameriprise Financial Price Performance
Shares of NYSE AMP opened at $561.04 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The firm has a market cap of $50.44 billion, a P/E ratio of 13.53, a PEG ratio of 0.75 and a beta of 1.14. The company has a 50 day moving average of $523.27 and a 200 day moving average of $482.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.
Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm posted $9.11 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is presently 16.40%.
About Ameriprise Financial
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
Read More
- Five stocks we like better than Ameriprise Financial
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP – Free Report).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.
