Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,986 shares of the financial services provider’s stock after purchasing an additional 3,557 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameriprise Financial were worth $24,025,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $7,156,000. Teacher Retirement System of Texas lifted its holdings in Ameriprise Financial by 14.4% in the fourth quarter. Teacher Retirement System of Texas now owns 53,284 shares of the financial services provider’s stock valued at $16,074,000 after buying an additional 6,722 shares during the period. Neo Ivy Capital Management acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $271,000. Fractal Investments LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $282,000. Finally, Asset Allocation & Management Company LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $1,056,000. Institutional investors own 82.69% of the company’s stock.
Several brokerages recently weighed in on AMP. UBS Group cut their price objective on shares of Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, April 26th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, April 4th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $325.00 to $270.00 in a research note on Friday, June 24th. Piper Sandler lowered their target price on shares of Ameriprise Financial from $275.00 to $253.00 and set an “underweight” rating for the company in a research note on Thursday, June 16th. Finally, Morgan Stanley lowered their target price on shares of Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.78.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The financial services provider reported $5.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.05. Ameriprise Financial had a net margin of 22.45% and a return on equity of 50.02%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $5.43 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 25.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Monday, May 9th were issued a dividend of $1.25 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Friday, May 6th. This represents a $5.00 annualized dividend and a yield of 2.10%. Ameriprise Financial’s dividend payout ratio is presently 19.20%.
Ameriprise Financial Profile (Get Rating)
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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