Kinneret Advisory LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,776 shares of the financial services provider’s stock, valued at approximately $185,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Regent Investment Management LLC raised its holdings in Ameriprise Financial by 96.8% in the 4th quarter. Regent Investment Management LLC now owns 10,553 shares of the financial services provider’s stock worth $1,101,000 after acquiring an additional 5,190 shares during the last quarter. Greatmark Investment Partners Inc. grew its position in Ameriprise Financial by 110.6% in the 4th quarter. Greatmark Investment Partners Inc. now owns 33,804 shares of the financial services provider’s stock worth $3,528,000 after purchasing an additional 17,750 shares during the period. Verition Fund Management LLC grew its position in Ameriprise Financial by 35.6% in the 3rd quarter. Verition Fund Management LLC now owns 6,267 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 1,646 shares during the period. Teachers Advisors LLC grew its position in Ameriprise Financial by 2.2% in the 3rd quarter. Teachers Advisors LLC now owns 575,026 shares of the financial services provider’s stock worth $84,908,000 after purchasing an additional 12,153 shares during the period. Finally, Standard Life Aberdeen plc grew its position in Ameriprise Financial by 7.9% in the 3rd quarter. Standard Life Aberdeen plc now owns 52,784 shares of the financial services provider’s stock worth $7,795,000 after purchasing an additional 3,855 shares during the period. Institutional investors own 78.42% of the company’s stock.

In other news, EVP Colin Moore sold 24,032 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the completion of the sale, the executive vice president now owns 56,447 shares of the company’s stock, valued at approximately $7,543,577.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Shares of AMP stock opened at $125.07 on Friday. Ameriprise Financial, Inc. has a 1 year low of $95.69 and a 1 year high of $159.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.82. The firm has a market cap of $16.95 billion, a PE ratio of 8.37 and a beta of 1.92.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.12. Ameriprise Financial had a net margin of 16.35% and a return on equity of 38.65%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 15.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Friday, February 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 14th. Ameriprise Financial’s payout ratio is 24.10%.

AMP has been the subject of a number of research analyst reports. Barclays raised shares of Ameriprise Financial from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $165.00 to $135.00 in a research report on Wednesday, January 9th. Zacks Investment Research raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Sandler O’Neill raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Royal Bank of Canada set a $134.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, ValuEngine downgraded shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $152.38.

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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 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.

Further Reading: Cost of Debt

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

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