Panagora Asset Management Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,647 shares of the financial services provider’s stock after acquiring an additional 26,066 shares during the quarter. Ameriprise Financial makes up 0.6% of Panagora Asset Management Inc.’s portfolio, making the stock its 29th biggest holding. Panagora Asset Management Inc. owned 0.37% of Ameriprise Financial worth $100,104,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings in Ameriprise Financial by 15.0% in the fourth quarter. Barclays PLC now owns 192,627 shares of the financial services provider’s stock worth $37,434,000 after purchasing an additional 25,144 shares in the last quarter. Aviva PLC boosted its holdings in Ameriprise Financial by 4.1% during the fourth quarter. Aviva PLC now owns 40,407 shares of the financial services provider’s stock valued at $7,852,000 after acquiring an additional 1,594 shares during the period. Boston Partners boosted its holdings in Ameriprise Financial by 0.3% during the fourth quarter. Boston Partners now owns 1,932,622 shares of the financial services provider’s stock valued at $375,566,000 after acquiring an additional 5,102 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Ameriprise Financial by 98.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 7,144 shares of the financial services provider’s stock valued at $1,388,000 after acquiring an additional 3,540 shares during the period. Finally, Reby Advisors LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at about $53,000. 81.47% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $270.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price target for the company. in a report on Wednesday, March 31st. Barclays upped their price target on shares of Ameriprise Financial from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, April 12th. Citigroup increased their target price on shares of Ameriprise Financial from $245.00 to $265.00 in a research note on Wednesday, March 31st. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $236.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $238.44.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Sunday, April 25th. The financial services provider reported $5.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.73 by $0.70. Ameriprise Financial had a negative net margin of 0.53% and a positive return on equity of 34.89%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the business posted $5.41 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 21.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Monday, May 10th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, May 7th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. Ameriprise Financial’s dividend payout ratio is 32.10%.
In other news, insider John Robert Woerner sold 13,956 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $258.76, for a total transaction of $3,611,254.56. Following the completion of the sale, the insider now owns 57,818 shares of the company’s stock, valued at $14,960,985.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gerard P. Smyth sold 970 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $259.64, for a total transaction of $251,850.80. Following the sale, the executive vice president now directly owns 13,969 shares of the company’s stock, valued at approximately $3,626,911.16. The disclosure for this sale can be found here. Insiders sold 16,486 shares of company stock valued at $4,268,471 in the last three months. Company insiders own 1.10% of the company’s stock.
Ameriprise Financial Company 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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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