MUFG Securities EMEA plc Grows Stake in Ameriprise Financial, Inc. $AMP

MUFG Securities EMEA plc increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 111.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,809 shares of the financial services provider’s stock after acquiring an additional 2,005 shares during the period. MUFG Securities EMEA plc’s holdings in Ameriprise Financial were worth $1,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the third quarter worth about $32,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $32,000. WFA of San Diego LLC purchased a new position in Ameriprise Financial in the second quarter worth about $36,000. Finally, Activest Wealth Management grew its position in Ameriprise Financial by 777.8% in the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.3%

Shares of NYSE AMP opened at $446.93 on Tuesday. The firm has a 50-day simple moving average of $455.55 and a two-hundred day simple moving average of $472.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The company has a market cap of $40.18 billion, a P/E ratio of 11.11, a PEG ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $9.50 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is presently 16.91%.

Insider Activity at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMP. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Profile

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.