Oppenheimer Asset Management Inc. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,364 shares of the financial services provider’s stock after purchasing an additional 795 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ameriprise Financial were worth $788,000 at the end of the most recent quarter.
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A number of other large investors also recently made changes to their positions in AMP. Buckingham Capital Management Inc. raised its position in Ameriprise Financial by 3.6% during the 1st quarter. Buckingham Capital Management Inc. now owns 10,820 shares of the financial services provider’s stock worth $1,386,000 after purchasing an additional 375 shares during the last quarter. Park National Corp OH bought a new position in Ameriprise Financial during the 2nd quarter worth $206,000. Montecito Bank & Trust raised its position in Ameriprise Financial by 14.0% during the 2nd quarter. Montecito Bank & Trust now owns 3,927 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 481 shares during the last quarter. KAMES CAPITAL plc raised its position in Ameriprise Financial by 63.7% during the 2nd quarter. KAMES CAPITAL plc now owns 12,356 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 4,809 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in Ameriprise Financial during the 2nd quarter worth $848,000. 82.72% of the stock is owned by institutional investors and hedge funds.
Shares of Ameriprise Financial stock opened at $158.54 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $144.96 and a two-hundred day moving average price of $143.06. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $160.63. The company has a market cap of $20.72 billion, a P/E ratio of 10.61 and a beta of 1.85.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.09 by $0.15. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the business posted $3.74 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 16.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, November 1st. This represents a $3.88 dividend on an annualized basis and a yield of 2.45%. Ameriprise Financial’s payout ratio is currently 25.97%.
AMP has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $145.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley decreased their price target on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Zacks Investment Research downgraded Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target for the company. in a report on Wednesday, October 16th. ValuEngine downgraded Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. Finally, Citigroup decreased their price target on Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $173.00.
In other news, insider John Robert Woerner sold 6,477 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $154.13, for a total value of $998,300.01. Following the completion of the sale, the insider now directly owns 27,196 shares in the company, valued at approximately $4,191,719.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
Ameriprise Financial 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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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