Dynamic Technology Lab Private Ltd grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 169.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,838 shares of the financial services provider’s stock after purchasing an additional 9,338 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Ameriprise Financial were worth $2,195,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AMP. Prudential Financial Inc. lifted its stake in shares of Ameriprise Financial by 83.4% in the 1st quarter. Prudential Financial Inc. now owns 922,427 shares of the financial services provider’s stock valued at $136,464,000 after purchasing an additional 419,484 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Ameriprise Financial by 207.6% in the 1st quarter. Millennium Management LLC now owns 494,341 shares of the financial services provider’s stock valued at $73,133,000 after purchasing an additional 333,623 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $54,782,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $47,935,000. Finally, Mackay Shields LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $34,945,000. 82.66% of the stock is currently owned by institutional investors and hedge funds.
AMP stock opened at $146.95 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $21.45 billion, a P/E ratio of 11.98 and a beta of 1.83. Ameriprise Financial, Inc. has a 12-month low of $125.07 and a 12-month high of $183.90.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.46 by $0.24. The firm had revenue of $3.10 billion for 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 quarter in the previous year, the business earned $2.52 EPS. research analysts expect that Ameriprise Financial, Inc. will post 14.44 EPS for the current year.
In other news, CEO James M. Cracchiolo acquired 7,400 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The shares were purchased at an average price of $136.04 per share, for a total transaction of $1,006,696.00. Following the acquisition, the chief executive officer now owns 242,416 shares of the company’s stock, valued at $32,978,272.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Walter Stanley Berman acquired 3,728 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was purchased at an average price of $134.12 per share, for a total transaction of $499,999.36. Following the acquisition, the vice president now directly owns 25,076 shares in the company, valued at approximately $3,363,193.12. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.
Several equities analysts have recently commented on the company. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research note on Thursday, March 22nd. UBS Group assumed coverage on Ameriprise Financial in a research note on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target on the stock. Deutsche Bank assumed coverage on Ameriprise Financial in a research note on Friday, March 2nd. They issued a “buy” rating on the stock. Sandler O’Neill set a $150.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research note on Thursday, April 5th. Finally, Morgan Stanley cut their price objective on Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, April 5th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ameriprise Financial has an average rating of “Hold” and a consensus target price of $167.22.
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 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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