Principal Financial Group Inc. raised its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 222,465 shares of the financial services provider’s stock after acquiring an additional 3,094 shares during the period. Principal Financial Group Inc.’s holdings in Ameriprise Financial were worth $98,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in AMP. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC boosted its position in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares during the period. Sivia Capital Partners LLC raised its position in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC lifted its stake in shares of Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after buying an additional 2,922 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Insider Activity at Ameriprise Financial
In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Analysis on Ameriprise Financial
Ameriprise Financial Price Performance
NYSE:AMP opened at $528.07 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock has a fifty day moving average of $467.73 and a 200 day moving average of $473.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $47.47 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.93 and a beta of 1.16.
Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company earned $9.50 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 43.46 EPS for the current fiscal year.
Ameriprise Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.
Ameriprise Financial Profile
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.
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