Oregon Public Employees Retirement Fund lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,001 shares of the financial services provider’s stock after selling 2,454 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Ameriprise Financial were worth $4,756,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. IMA Wealth Inc. purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at $110,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Ameriprise Financial by 8,300.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock worth $118,000 after buying an additional 830 shares during the period. LeJeune Puetz Investment Counsel LLC purchased a new stake in Ameriprise Financial during the 2nd quarter worth $119,000. Dupont Capital Management Corp increased its stake in Ameriprise Financial by 391.5% during the 1st quarter. Dupont Capital Management Corp now owns 988 shares of the financial services provider’s stock worth $146,000 after buying an additional 787 shares during the period. Finally, First Mercantile Trust Co. purchased a new stake in Ameriprise Financial during the 2nd quarter worth $166,000. 81.39% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on AMP. Sandler O’Neill set a $158.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Wednesday, July 25th. ValuEngine downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Barclays dropped their price target on shares of Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Monday, July 9th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $175.00 to $177.00 and gave the stock an “overweight” rating in a research note 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 target on the stock in a research note on Thursday, July 12th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $165.25.
Ameriprise Financial stock opened at $142.48 on Friday. Ameriprise Financial, Inc. has a 12-month low of $129.87 and a 12-month high of $183.90. The firm has a market cap of $20.31 billion, a P/E ratio of 11.61 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 (NYSE:AMP) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter in the previous year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. equities analysts expect that Ameriprise Financial, Inc. will post 14.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, August 6th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Friday, August 3rd. Ameriprise Financial’s payout ratio is currently 29.34%.
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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