Armstrong Advisory Group Inc. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 237 shares of the financial services provider's stock, valued at approximately $74,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Thrivent Financial for Lutherans increased its position in Ameriprise Financial by 1,166.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 312,845 shares of the financial services provider's stock valued at $74,358,000 after buying an additional 288,145 shares in the last quarter. Invesco Ltd. increased its position in Ameriprise Financial by 33.5% during the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider's stock valued at $324,031,000 after buying an additional 270,755 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Ameriprise Financial by 48.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 763,424 shares of the financial services provider's stock valued at $229,303,000 after buying an additional 249,192 shares in the last quarter. Prudential Financial Inc. increased its position in Ameriprise Financial by 121.4% during the 1st quarter. Prudential Financial Inc. now owns 362,345 shares of the financial services provider's stock valued at $108,834,000 after buying an additional 198,694 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Ameriprise Financial during the 3rd quarter valued at approximately $45,896,000. Institutional investors own 81.66% of the company's stock.
Get Ameriprise Financial alerts:Analyst Ratings Changes
A number of research firms have commented on AMP. StockNews.com began coverage on Ameriprise Financial in a report on Thursday, March 16th. They issued a "hold" rating for the company. UBS Group lifted their target price on Ameriprise Financial from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, January 9th. Morgan Stanley lifted their target price on Ameriprise Financial from $340.00 to $345.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 10th. Credit Suisse Group lifted their target price on Ameriprise Financial from $382.00 to $401.00 and gave the stock an "outperform" rating in a report on Wednesday, February 1st. Finally, Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $350.00 to $375.00 and gave the stock a "market perform" rating in a report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.18.
Ameriprise Financial Stock Performance
AMP stock opened at $291.44 on Friday. The company has a market cap of $30.64 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 0.55 and a beta of 1.49. Ameriprise Financial, Inc. has a 1 year low of $219.99 and a 1 year high of $357.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.69 and a quick ratio of 0.69. The stock's fifty day moving average price is $332.04 and its 200-day moving average price is $311.00.
Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.35 by $0.59. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.46 billion. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business posted $6.15 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 30.69 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 10th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, February 9th. This represents a $5.00 annualized dividend and a yield of 1.72%. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.27%.
Insider Activity at Ameriprise Financial
In related news, CEO William F. Truscott sold 11,480 shares of Ameriprise Financial stock in a transaction on Monday, February 13th. The stock was sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the transaction, the chief executive officer now directly owns 17,489 shares in the company, valued at $6,214,366.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William F. Truscott sold 11,480 shares of Ameriprise Financial stock in a transaction on Monday, February 13th. The stock was sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the transaction, the chief executive officer now directly owns 17,489 shares in the company, valued at $6,214,366.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 11,483 shares of Ameriprise Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $347.69, for a total value of $3,992,524.27. Following the transaction, the chief executive officer now owns 16,262 shares in the company, valued at $5,654,134.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,738 shares of company stock worth $26,606,004. Corporate insiders own 1.00% of the company's stock.
Ameriprise Financial Profile
(Get Rating)
Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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