Alyeska Investment Group L.P. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 31,314 shares of the financial services provider’s stock, valued at approximately $7,279,000.
A number of other large investors also recently modified their holdings of AMP. Better Money Decisions LLC bought a new position in Ameriprise Financial in the 1st quarter valued at approximately $27,000. CVA Family Office LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at $28,000. Neo Ivy Capital Management bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $35,000. Wealthcare Advisory Partners LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at $40,000. Finally, Vantage Consulting Group Inc bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $45,000. 81.33% of the stock is owned by institutional investors and hedge funds.
AMP has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Ameriprise Financial from $250.00 to $260.00 and gave the company an “equal weight” rating in a research note on Thursday, July 15th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Zacks Investment Research downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research note on Wednesday, March 31st. UBS Group lifted their target price on shares of Ameriprise Financial from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Finally, Barclays lifted their target price on shares of Ameriprise Financial from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, April 12th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $256.10.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Sunday, April 25th. The financial services provider reported $5.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.73 by $0.70. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Ameriprise Financial had a negative net margin of 0.53% and a positive return on equity of 34.89%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $5.41 earnings per share. On average, research analysts forecast that Ameriprise Financial, Inc. will post 21.45 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Monday, May 10th were given a dividend of $1.13 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, May 7th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 32.10%.
In related news, insider John Robert Woerner sold 13,956 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 57,818 shares of the company’s stock, valued at $14,960,985.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 970 shares of Ameriprise Financial stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $259.64, for a total transaction of $251,850.80. Following the completion of the sale, the executive vice president now directly owns 13,969 shares in the company, valued at approximately $3,626,911.16. The disclosure for this sale can be found here. Insiders have sold 16,486 shares of company stock worth $4,268,471 over the last three months. 1.10% of the stock is owned by insiders.
Ameriprise Financial 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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