Northwestern Mutual Wealth Management Co. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,923 shares of the financial services provider’s stock after buying an additional 421 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ameriprise Financial were worth $549,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Ameriprise Financial by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 669,488 shares of the financial services provider’s stock valued at $99,044,000 after acquiring an additional 6,978 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in Ameriprise Financial by 4.5% in the 1st quarter. CHICAGO TRUST Co NA now owns 15,361 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 668 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at $7,627,000. Delpha Capital Management LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at $283,000. Finally, Rothschild Asset Management Inc. lifted its position in Ameriprise Financial by 0.9% in the 2nd quarter. Rothschild Asset Management Inc. now owns 198,009 shares of the financial services provider’s stock valued at $27,698,000 after acquiring an additional 1,849 shares in the last quarter. 81.39% of the stock is owned by institutional investors.
Shares of NYSE:AMP opened at $142.48 on Friday. 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 one year low of $129.87 and a one year high of $183.90. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 11.61 and a beta of 1.81.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, topping the 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 analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted $2.80 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. equities analysts forecast that Ameriprise Financial, Inc. will post 14.68 EPS for the current fiscal year.
The firm 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 of this dividend was Friday, August 3rd. This represents a $3.60 annualized dividend and a yield of 2.53%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.
Several equities research analysts recently commented on the stock. Sandler O’Neill set a $158.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Wednesday, July 25th. ValuEngine cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. 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. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Thursday, July 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ameriprise Financial has a consensus rating of “Hold” and an average target price of $165.25.
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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