Schwab Charles Investment Management Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,482 shares of the financial services provider’s stock after purchasing an additional 75,507 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Ameriprise Financial were worth $103,299,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Trail Advisors LLC raised its holdings in shares of Ameriprise Financial by 12,071.7% in the 1st quarter. Summit Trail Advisors LLC now owns 105,407 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 104,541 shares in the last quarter. IMA Wealth Inc. purchased a new position in shares of Ameriprise Financial in the second quarter worth approximately $110,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Ameriprise Financial by 8,300.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 830 shares in the last quarter. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Ameriprise Financial in the second quarter worth approximately $119,000. Finally, Jacobi Capital Management LLC increased its position in shares of Ameriprise Financial by 89.8% in the first quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 414 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.
Several research firms have recently weighed in on AMP. ValuEngine raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Sandler O’Neill set a $158.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Royal Bank of Canada set a $158.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Credit Suisse Group began coverage on shares of Ameriprise Financial in a research report on Wednesday, April 25th. They issued a “neutral” rating and a $154.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Ameriprise Financial from $175.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $165.25.
Ameriprise Financial stock opened at $141.18 on Tuesday. The company has a market capitalization of $19.79 billion, a PE ratio of 9.90 and a beta of 1.81. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.76. Ameriprise Financial, Inc. has a fifty-two week low of $129.87 and a fifty-two week high of $183.90.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.09. Ameriprise Financial had a net margin of 13.91% and a return on equity of 36.15%. The firm 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 posted $2.80 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. equities research analysts predict that Ameriprise Financial, Inc. will post 14.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, August 6th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Friday, August 3rd. Ameriprise Financial’s payout ratio is presently 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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