Palisade Asset Management LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.3% in the first quarter, HoldingsChannel.com reports. The fund owned 4,160 shares of the financial services provider’s stock after acquiring an additional 320 shares during the quarter. Palisade Asset Management LLC’s holdings in Ameriprise Financial were worth $533,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth about $613,867,000. Oregon Public Employees Retirement Fund lifted its position in Ameriprise Financial by 9,885.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 3,379,445 shares during the period. Bank of New York Mellon Corp lifted its position in Ameriprise Financial by 11.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,437,464 shares of the financial services provider’s stock worth $507,575,000 after acquiring an additional 342,277 shares during the period. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,577,013 shares of the financial services provider’s stock worth $380,523,000 after acquiring an additional 263,728 shares during the period. Finally, American Century Companies Inc. lifted its position in Ameriprise Financial by 12.4% during the 4th quarter. American Century Companies Inc. now owns 2,192,388 shares of the financial services provider’s stock worth $228,820,000 after acquiring an additional 242,695 shares during the period. 84.98% of the stock is owned by institutional investors.
AMP has been the subject of a number of research reports. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 15th. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Sandler O’Neill raised Ameriprise Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Royal Bank of Canada set a $134.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Barclays raised Ameriprise Financial from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $165.00 to $135.00 in a report on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $152.38.
In other news, EVP Colin Moore sold 24,032 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $133.64, for a total value of $3,211,636.48. Following the completion of the transaction, the executive vice president now owns 56,447 shares of the company’s stock, valued at approximately $7,543,577.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.
Shares of AMP stock traded down $1.27 on Monday, hitting $141.27. The company had a trading volume of 657,500 shares, compared to its average volume of 974,547. The stock has a market cap of $19.23 billion, a PE ratio of 9.46 and a beta of 1.91. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.82. Ameriprise Financial, Inc. has a twelve month low of $95.69 and a twelve month high of $153.15.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $3.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.12. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 15.35 earnings per share for the current fiscal year.
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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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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