Bank of New York Mellon Corp increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,095,187 shares of the financial services provider’s stock after purchasing an additional 382,319 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.14% of Ameriprise Financial worth $432,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,249,940 shares of the financial services provider’s stock worth $628,736,000 after purchasing an additional 14,054 shares during the last quarter. LSV Asset Management lifted its holdings in Ameriprise Financial by 5.0% in the 1st quarter. LSV Asset Management now owns 2,933,767 shares of the financial services provider’s stock worth $434,021,000 after purchasing an additional 139,093 shares during the last quarter. Aristotle Capital Management LLC lifted its holdings in Ameriprise Financial by 5.7% in the 1st quarter. Aristotle Capital Management LLC now owns 2,702,111 shares of the financial services provider’s stock worth $399,750,000 after purchasing an additional 146,097 shares during the last quarter. American Century Companies Inc. lifted its holdings in Ameriprise Financial by 2.2% in the 1st quarter. American Century Companies Inc. now owns 1,416,294 shares of the financial services provider’s stock worth $209,527,000 after purchasing an additional 30,674 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Ameriprise Financial by 18.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,068,999 shares of the financial services provider’s stock worth $158,150,000 after purchasing an additional 169,835 shares during the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.

Several research firms recently weighed in on AMP. Sandler O’Neill set a $150.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a report on Monday. Barclays cut their price target on Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Monday, July 9th. ValuEngine lowered Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Morgan Stanley upped their price target on Ameriprise Financial from $175.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, July 12th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $166.38.

Shares of AMP stock opened at $136.27 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $129.87 and a 12 month high of $183.90. The company has a market cap of $19.45 billion, a PE ratio of 11.20 and a beta of 1.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.69 and a quick ratio of 0.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.09. Ameriprise Financial had a return on equity of 36.15% and a net margin of 13.91%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $2.80 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts anticipate that Ameriprise Financial, Inc. will post 14.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Monday, August 6th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.64%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.

Ameriprise Financial Company Profile

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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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