Capital World Investors Increases Stake in Ameriprise Financial, Inc. $AMP

Capital World Investors increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 59.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,337 shares of the financial services provider’s stock after purchasing an additional 43,710 shares during the quarter. Capital World Investors’ holdings in Ameriprise Financial were worth $57,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after buying an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after acquiring an additional 446,080 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after acquiring an additional 47,584 shares during the period. Norges Bank bought a new position in Ameriprise Financial during the 2nd quarter worth approximately $693,736,000. Finally, Boston Partners increased its stake in Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after purchasing an additional 35,500 shares during the period. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Argus cut their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $439.51 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $40.07 billion, a P/E ratio of 12.09, a PEG ratio of 1.05 and a beta of 1.27. The stock’s 50 day moving average is $492.60 and its 200 day moving average is $485.65.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the company posted $9.54 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s payout ratio is presently 17.60%.

About Ameriprise Financial

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.