People s United Financial Inc. Boosts Stake in Ameriprise Financial, Inc. (AMP)

People s United Financial Inc. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,124 shares of the financial services provider’s stock after buying an additional 1,166 shares during the period. People s United Financial Inc.’s holdings in Ameriprise Financial were worth $1,937,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Ameriprise Financial by 3.8% during the second quarter. BlackRock Inc. now owns 10,832,182 shares of the financial services provider’s stock valued at $1,515,207,000 after purchasing an additional 392,679 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ameriprise Financial by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 3,437,464 shares of the financial services provider’s stock worth $507,575,000 after purchasing an additional 342,277 shares in the last quarter. LSV Asset Management increased its stake in shares of Ameriprise Financial by 1.7% during the third quarter. LSV Asset Management now owns 3,099,278 shares of the financial services provider’s stock worth $457,639,000 after purchasing an additional 51,806 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 2,577,013 shares of the financial services provider’s stock worth $380,523,000 after purchasing an additional 263,728 shares in the last quarter. Finally, FMR LLC boosted its position in Ameriprise Financial by 65.9% during the second quarter. FMR LLC now owns 2,079,355 shares of the financial services provider’s stock worth $290,861,000 after acquiring an additional 825,832 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

Several research firms have weighed in on AMP. Royal Bank of Canada set a $148.00 target price on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Friday, October 5th. ValuEngine raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Sandler O’Neill set a $150.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Monday, August 13th. Finally, UBS Group dropped their target price on shares of Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Ameriprise Financial currently has an average rating of “Hold” and an average price target of $160.38.

Shares of NYSE:AMP opened at $119.33 on Friday. The firm has a market cap of $16.92 billion, a P/E ratio of 9.73 and a beta of 1.78. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.75. Ameriprise Financial, Inc. has a 1-year low of $113.21 and a 1-year high of $183.90.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.37. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Ameriprise Financial had a net margin of 13.58% and a return on equity of 37.21%. Ameriprise Financial’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.12 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 15.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 16th. Investors of record on Monday, November 5th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, November 2nd. Ameriprise Financial’s dividend payout ratio is currently 29.34%.

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About Ameriprise Financial

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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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