Bridges Investment Management Inc. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,845 shares of the financial services provider’s stock after selling 6,268 shares during the period. Bridges Investment Management Inc.’s holdings in Ameriprise Financial were worth $7,812,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Telemus Capital LLC increased its position in shares of Ameriprise Financial by 3.9% in the second quarter. Telemus Capital LLC now owns 9,627 shares of the financial services provider’s stock worth $1,347,000 after acquiring an additional 362 shares in the last quarter. Gs Investments Inc. grew its holdings in Ameriprise Financial by 2.2% during the 2nd quarter. Gs Investments Inc. now owns 18,145 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 385 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Ameriprise Financial by 56.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,075 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 389 shares in the last quarter. Captrust Financial Advisors grew its holdings in Ameriprise Financial by 10.0% during the 2nd quarter. Captrust Financial Advisors now owns 4,368 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 397 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Ameriprise Financial by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,923 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 421 shares in the last quarter. 81.38% of the stock is owned by institutional investors.
NYSE AMP opened at $143.37 on Friday. Ameriprise Financial, Inc. has a 12 month low of $129.87 and a 12 month high of $183.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 11.68 and a beta of 1.81.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, beating the Zacks’ 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 period in the prior year, the firm posted $2.80 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. research analysts expect that Ameriprise Financial, Inc. will post 14.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were paid a dividend of $0.90 per share. The ex-dividend date was Friday, August 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 2.51%. Ameriprise Financial’s dividend payout ratio (DPR) is 29.34%.
AMP has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, July 12th. ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Sandler O’Neill set a $150.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Monday, August 13th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Finally, Credit Suisse Group lowered their price target on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, August 17th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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