Cornerstone Capital Management Holdings LLC. grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,181 shares of the financial services provider’s stock after buying an additional 3,088 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.21% of Ameriprise Financial worth $51,548,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in AMP. Alps Advisors Inc. lifted its position in shares of Ameriprise Financial by 23.4% in the third quarter. Alps Advisors Inc. now owns 3,476 shares of the financial services provider’s stock worth $516,000 after buying an additional 660 shares during the last quarter. FDx Advisors Inc. lifted its position in shares of Ameriprise Financial by 14.0% in the third quarter. FDx Advisors Inc. now owns 8,724 shares of the financial services provider’s stock worth $1,296,000 after buying an additional 1,074 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in shares of Ameriprise Financial by 188.1% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 61,011 shares of the financial services provider’s stock worth $9,042,000 after buying an additional 39,832 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Ameriprise Financial by 12.7% during the 3rd quarter. New York State Common Retirement Fund now owns 394,918 shares of the financial services provider’s stock worth $58,649,000 after purchasing an additional 44,418 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth about $452,000. 86.73% of the stock is owned by institutional investors.
In related news, insider David Kent Stewart sold 4,817 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $171.51, for a total transaction of $826,163.67. Following the transaction, the insider now directly owns 29,727 shares in the company, valued at $5,098,477.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $174.04, for a total value of $957,220.00. Following the transaction, the executive vice president now owns 8,138 shares in the company, valued at $1,416,337.52. The disclosure for this sale can be found here. Insiders have sold 46,077 shares of company stock worth $7,931,285 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. equities analysts anticipate that Ameriprise Financial, Inc. will post 14.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 16th were paid a dividend of $0.83 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.32 annualized dividend and a yield of 2.08%. Ameriprise Financial’s dividend payout ratio is 35.17%.
Several equities analysts recently weighed in on AMP shares. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Royal Bank of Canada set a $168.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. SunTrust Banks boosted their price objective on Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. UBS Group started coverage on Ameriprise Financial in a research report on Friday, March 2nd. They set a “buy” rating and a $217.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $173.67.
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Ameriprise Financial Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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