Robeco Institutional Asset Management B.V. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,503 shares of the financial services provider’s stock after purchasing an additional 25,251 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Ameriprise Financial worth $27,510,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at $68,393,000. Dimensional Fund Advisors LP grew its holdings in shares of Ameriprise Financial by 22.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 984,359 shares of the financial services provider’s stock worth $102,736,000 after purchasing an additional 181,115 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Ameriprise Financial by 30.0% during the first quarter. Bank of Montreal Can now owns 760,086 shares of the financial services provider’s stock worth $97,368,000 after purchasing an additional 175,580 shares during the last quarter. Pennsylvania Trust Co grew its holdings in shares of Ameriprise Financial by 434.2% during the first quarter. Pennsylvania Trust Co now owns 136,749 shares of the financial services provider’s stock worth $21,890,000 after purchasing an additional 111,149 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,951,406 shares of the financial services provider’s stock worth $203,334,000 after purchasing an additional 107,830 shares during the last quarter. Institutional investors own 80.91% of the company’s stock.
Shares of AMP stock traded down $4.26 during midday trading on Friday, reaching $135.30. 1,948,174 shares of the company traded hands, compared to its average volume of 693,508. The business’s 50 day moving average price is $148.37. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $153.91. The company has a current ratio of 0.78, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 9.06 and a beta of 1.80.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.00 by $0.06. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $3.60 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 16.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.87%. Ameriprise Financial’s payout ratio is 25.97%.
In other news, EVP Randy Kupper sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $150.38, for a total transaction of $775,960.80. Following the completion of the transaction, the executive vice president now directly owns 23,656 shares of the company’s stock, valued at approximately $3,557,389.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on the stock. Credit Suisse Group upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Royal Bank of Canada set a $145.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $173.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Ameriprise Financial upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Finally, Argus initiated coverage on shares of Ameriprise Financial in a research note on Friday, July 5th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $173.56.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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