Scotia Capital Inc. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 61.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,400 shares of the financial services provider’s stock after buying an additional 3,595 shares during the quarter. Scotia Capital Inc.’s holdings in Ameriprise Financial were worth $1,364,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of AMP. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,951,406 shares of the financial services provider’s stock worth $203,334,000 after acquiring an additional 107,830 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Ameriprise Financial by 47.8% in the 1st quarter. Janus Henderson Group PLC now owns 50,458 shares of the financial services provider’s stock worth $6,464,000 after acquiring an additional 16,319 shares during the period. Cornerstone Advisors Inc. increased its holdings in shares of Ameriprise Financial by 31.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 470 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 112 shares during the period. OLD National Bancorp IN acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth about $244,000. Finally, First Mercantile Trust Co. increased its holdings in shares of Ameriprise Financial by 20.3% in the 1st quarter. First Mercantile Trust Co. now owns 1,973 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 333 shares during the period. Institutional investors own 82.80% of the company’s stock.
A number of analysts recently weighed in on the stock. Royal Bank of Canada set a $145.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Friday, July 26th. UBS Group dropped their price objective on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, July 12th. ValuEngine cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup lowered their target price on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Argus assumed coverage on shares of Ameriprise Financial in a research note on Friday, July 5th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $174.88.
Ameriprise Financial stock traded up $1.05 during trading hours on Friday, hitting $147.43. 1,068,363 shares of the company traded hands, compared to its average volume of 992,408. The firm has a market cap of $19.16 billion, a P/E ratio of 9.54 and a beta of 1.83. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $133.38 and its two-hundred day simple moving average is $139.43. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $153.91.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.00 by $0.06. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. Ameriprise Financial’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $3.60 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 16.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $0.97 dividend. The ex-dividend date was Friday, August 2nd. This represents a $3.88 annualized dividend and a dividend yield of 2.63%. Ameriprise Financial’s dividend payout ratio is currently 25.97%.
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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