Financial Counselors Inc. Buys 5,341 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Counselors Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,492 shares of the financial services provider’s stock after acquiring an additional 5,341 shares during the quarter. Financial Counselors Inc. owned 0.08% of Ameriprise Financial worth $16,611,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DnB Asset Management AS grew its holdings in Ameriprise Financial by 4.0% in the second quarter. DnB Asset Management AS now owns 18,284 shares of the financial services provider’s stock valued at $2,558,000 after purchasing an additional 700 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Ameriprise Financial by 43.7% in the second quarter. IFM Investors Pty Ltd now owns 6,743 shares of the financial services provider’s stock valued at $943,000 after acquiring an additional 2,049 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in shares of Ameriprise Financial in the second quarter valued at $1,892,000. Fulton Bank N.A. lifted its position in shares of Ameriprise Financial by 14.9% in the second quarter. Fulton Bank N.A. now owns 6,879 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 893 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Ameriprise Financial by 11.0% in the second quarter. Xact Kapitalforvaltning AB now owns 23,050 shares of the financial services provider’s stock valued at $3,224,000 after acquiring an additional 2,275 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on AMP. Morgan Stanley reduced their price objective on Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 13th. ValuEngine downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Sandler O’Neill set a $158.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Credit Suisse Group reduced their target price on Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, Zacks Investment Research downgraded Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $160.38.

NYSE:AMP traded up $1.43 on Thursday, hitting $123.64. 665,312 shares of the stock were exchanged, compared to its average volume of 1,117,463. The firm has a market capitalization of $17.03 billion, a PE ratio of 10.08 and a beta of 1.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $120.79 and a fifty-two week high of $183.90.

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

The company also recently declared a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $3.60 annualized dividend and a yield of 2.91%. Ameriprise Financial’s dividend payout ratio is presently 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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