American Century Companies Inc. boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 26.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,796,655 shares of the financial services provider’s stock after buying an additional 380,361 shares during the quarter. American Century Companies Inc.’s holdings in Ameriprise Financial were worth $251,316,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. IMA Wealth Inc. bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $110,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Ameriprise Financial by 8,300.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 830 shares during the last quarter. LeJeune Puetz Investment Counsel LLC bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $119,000. Jacobi Capital Management LLC lifted its position in Ameriprise Financial by 89.8% in the 1st quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 414 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its position in Ameriprise Financial by 391.5% in the 1st quarter. Dupont Capital Management Corp now owns 988 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
Several brokerages recently weighed in on AMP. Barclays cut their price objective on shares of Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Monday, July 9th. SunTrust Banks cut their price objective on shares of Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Sandler O’Neill set a $158.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Credit Suisse Group dropped their price target on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada set a $158.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $165.25.
AMP stock opened at $139.47 on Monday. Ameriprise Financial, Inc. has a 52 week low of $129.87 and a 52 week high of $183.90. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 11.37 and a beta of 1.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.69 and a current ratio of 0.69.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.09. Ameriprise Financial had a net margin of 13.91% and a return on equity of 36.15%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm earned $2.80 EPS. Ameriprise Financial’s revenue was up 5.7% on a year-over-year basis. research analysts expect that Ameriprise Financial, Inc. will post 14.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were given a dividend of $0.90 per share. The ex-dividend date was Friday, August 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.58%. Ameriprise Financial’s dividend payout ratio (DPR) is 29.34%.
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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