State Treasurer State of Michigan decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,916 shares of the financial services provider’s stock after selling 2,400 shares during the period. State Treasurer State of Michigan’s holdings in Ameriprise Financial were worth $4,166,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of AMP. Ledyard National Bank increased its position in Ameriprise Financial by 116.2% during the 4th quarter. Ledyard National Bank now owns 707 shares of the financial services provider’s stock worth $74,000 after buying an additional 380 shares during the period. First Bank & Trust increased its position in Ameriprise Financial by 15.8% during the 4th quarter. First Bank & Trust now owns 918 shares of the financial services provider’s stock worth $96,000 after buying an additional 125 shares during the period. Capital Guardian Trust Co. bought a new position in Ameriprise Financial during the 3rd quarter worth $107,000. Belpointe Asset Management LLC bought a new position in Ameriprise Financial during the 3rd quarter worth $136,000. Finally, Dupont Capital Management Corp increased its position in Ameriprise Financial by 42.9% during the 4th quarter. Dupont Capital Management Corp now owns 1,459 shares of the financial services provider’s stock worth $152,000 after buying an additional 438 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Several research firms have recently issued reports on AMP. Zacks Investment Research lowered Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Royal Bank of Canada set a $134.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a report on Saturday, February 2nd. ValuEngine lowered Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 25th. Finally, Morgan Stanley reduced their target price on Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $152.38.
AMP opened at $125.57 on Friday. The firm has a market cap of $17.45 billion, a PE ratio of 8.40 and a beta of 1.89. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $163.88. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.53.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.12. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.15 billion. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. Ameriprise Financial’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 15.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Friday, February 15th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 14th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 24.10%.
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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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