IFP Advisors Inc lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 62.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,798 shares of the financial services provider’s stock after purchasing an additional 1,073 shares during the quarter. IFP Advisors Inc’s holdings in Ameriprise Financial were worth $413,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bridgewater Associates LP grew its position in shares of Ameriprise Financial by 121.6% in the 2nd quarter. Bridgewater Associates LP now owns 13,983 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 7,672 shares during the period. Commonwealth Bank of Australia grew its position in shares of Ameriprise Financial by 4.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 27,495 shares of the financial services provider’s stock valued at $3,839,000 after purchasing an additional 1,150 shares during the period. OppenheimerFunds Inc. grew its position in shares of Ameriprise Financial by 1.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 413,087 shares of the financial services provider’s stock valued at $57,783,000 after purchasing an additional 7,577 shares during the period. Brown Advisory Inc. grew its position in shares of Ameriprise Financial by 2.4% in the 2nd quarter. Brown Advisory Inc. now owns 1,149,432 shares of the financial services provider’s stock valued at $160,784,000 after purchasing an additional 27,050 shares during the period. Finally, Pennsylvania Trust Co grew its position in shares of Ameriprise Financial by 1.8% in the 3rd quarter. Pennsylvania Trust Co now owns 20,975 shares of the financial services provider’s stock valued at $3,098,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
AMP has been the subject of several research analyst reports. ValuEngine upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Morgan Stanley boosted their target price on Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. UBS Group cut their target price on Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, Credit Suisse Group cut their target price on Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $161.25.
NYSE AMP opened at $126.81 on Tuesday. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 10.33 and a beta of 1.79. The company has a current ratio of 0.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.75. Ameriprise Financial, Inc. has a 52 week low of $120.79 and a 52 week high of $183.90.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.37. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Ameriprise Financial had a return on equity of 37.21% and a net margin of 13.58%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.12 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 15.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, November 2nd. Ameriprise Financial’s payout ratio is 29.34%.
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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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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