Ameriprise Financial, Inc. (AMP) Position Trimmed by Fmr LLC

Fmr LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,052,632 shares of the financial services provider’s stock after selling 26,723 shares during the quarter. Fmr LLC owned about 1.47% of Ameriprise Financial worth $303,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. American International Group Inc. raised its holdings in shares of Ameriprise Financial by 3.3% in the 3rd quarter. American International Group Inc. now owns 65,870 shares of the financial services provider’s stock worth $9,726,000 after purchasing an additional 2,121 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ameriprise Financial by 11.1% in 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 purchasing an additional 342,277 shares during the period. FTB Advisors Inc. raised its holdings in shares of Ameriprise Financial by 3.4% in the 3rd quarter. FTB Advisors Inc. now owns 57,152 shares of the financial services provider’s stock worth $8,438,000 after purchasing an additional 1,877 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Ameriprise Financial by 5.7% in the 3rd quarter. Alliancebernstein L.P. now owns 246,865 shares of the financial services provider’s stock worth $36,452,000 after purchasing an additional 13,230 shares during the period. Finally, Keybank National Association OH raised its holdings in shares of Ameriprise Financial by 1.3% in the 3rd quarter. Keybank National Association OH now owns 124,442 shares of the financial services provider’s stock worth $18,375,000 after purchasing an additional 1,605 shares during the period. Hedge funds and other institutional investors own 81.57% of the company’s stock.

AMP stock opened at $129.75 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.75. Ameriprise Financial, Inc. has a 1 year low of $120.79 and a 1 year high of $183.90. The stock has a market capitalization of $18.08 billion, a PE ratio of 9.07 and a beta of 1.78.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.37. Ameriprise Financial had a return on equity of 37.21% and a net margin of 13.58%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the firm earned $3.12 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial, Inc. will post 15.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Monday, November 5th were paid a $0.90 dividend. The ex-dividend date was Friday, November 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.77%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 29.34%.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a report on Friday, October 5th. Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a report on Monday, August 13th. Credit Suisse Group cut their price objective on Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Royal Bank of Canada set a $160.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a report on Friday, October 12th. Finally, Morgan Stanley cut their price objective on Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $160.38.

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About Ameriprise Financial

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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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