Itau Unibanco Holding S.A. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 109.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,020 shares of the financial services provider’s stock after purchasing an additional 2,628 shares during the period. Itau Unibanco Holding S.A.’s holdings in Ameriprise Financial were worth $851,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AMP. Lee Financial Co raised its stake in Ameriprise Financial by 99.4% in the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 340 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Ameriprise Financial by 150.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 468 shares in the last quarter. Point View Wealth Management Inc. purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $207,000. Portland Global Advisors LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $221,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $223,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.
Ameriprise Financial, Inc. (NYSE:AMP) opened at $159.81 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.85. Ameriprise Financial, Inc. has a fifty-two week low of $118.84 and a fifty-two week high of $183.90. The stock has a market cap of $23,640.69, a P/E ratio of 13.00 and a beta of 1.85.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($1.90). The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. research analysts forecast that Ameriprise Financial, Inc. will post 14.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, February 15th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 35.17%.
A number of research analysts have commented on the stock. Sandler O’Neill set a $165.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Monday, February 12th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks increased their price target on shares of Ameriprise Financial from $140.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada set a $155.00 price target on shares of Ameriprise Financial and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $164.98.
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $174.04, for a total transaction of $957,220.00. Following the completion of the transaction, the executive vice president now owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 31,379 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $173.64, for a total value of $5,448,649.56. Following the transaction, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,628 shares of company stock worth $8,570,993. 1.50% of the stock is currently owned by company insiders.
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Ameriprise Financial Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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