Gamco Investors INC. ET AL reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,574 shares of the financial services provider’s stock after selling 876 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Ameriprise Financial were worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. AXA grew its holdings in Ameriprise Financial by 26.3% during the 4th quarter. AXA now owns 497,212 shares of the financial services provider’s stock valued at $84,262,000 after buying an additional 103,465 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $133,000. Lazard Asset Management LLC grew its holdings in Ameriprise Financial by 5.7% during the 4th quarter. Lazard Asset Management LLC now owns 312,763 shares of the financial services provider’s stock valued at $53,003,000 after buying an additional 16,895 shares in the last quarter. BB&T Securities LLC grew its holdings in Ameriprise Financial by 1.1% during the 4th quarter. BB&T Securities LLC now owns 49,751 shares of the financial services provider’s stock valued at $8,431,000 after buying an additional 534 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in Ameriprise Financial by 6.7% during the 4th quarter. Advisory Services Network LLC now owns 5,294 shares of the financial services provider’s stock valued at $897,000 after buying an additional 331 shares in the last quarter. 82.93% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Ameriprise Financial in a report on Wednesday, April 25th. They set a “neutral” rating and a $154.00 price objective for the company. Sandler O’Neill set a $158.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research report on Tuesday, April 24th. Royal Bank of Canada set a $158.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research report on Tuesday, April 24th. SunTrust Banks lowered their target price on Ameriprise Financial to $150.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Thursday, March 22nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $167.22.
In related news, VP Walter Stanley Berman purchased 3,728 shares of the stock in a transaction that occurred on Wednesday, May 2nd. The stock was bought at an average cost of $134.12 per share, for a total transaction of $499,999.36. Following the completion of the transaction, the vice president now directly owns 25,076 shares in the company, valued at $3,363,193.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James M. Cracchiolo purchased 7,400 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was bought at an average price of $136.04 per share, with a total value of $1,006,696.00. Following the completion of the transaction, the chief executive officer now owns 242,416 shares of the company’s stock, valued at $32,978,272.64. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.
NYSE AMP opened at $142.23 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The company has a market cap of $20.57 billion, a PE ratio of 11.59 and a beta of 1.86. Ameriprise Financial, Inc. has a one year low of $118.84 and a one year high of $183.90.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Monday, April 23rd. The financial services provider reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.24. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. Ameriprise Financial had a return on equity of 33.67% and a net margin of 13.59%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. sell-side analysts expect that Ameriprise Financial, Inc. will post 14.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Monday, May 7th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 dividend on an annualized basis and a yield of 2.53%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 29.34%.
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 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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