Amundi Pioneer Asset Management Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 362,040 shares of the financial services provider’s stock after acquiring an additional 30,553 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.27% of Ameriprise Financial worth $46,376,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. grew its stake in shares of Ameriprise Financial by 81.5% in the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 88 shares during the period. Farmers National Bank bought a new stake in shares of Ameriprise Financial in the first quarter worth approximately $31,000. Hanson McClain Inc. grew its stake in shares of Ameriprise Financial by 232.0% in the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 174 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Ameriprise Financial by 40.4% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 80 shares during the period. Finally, Canton Hathaway LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.
AMP opened at $144.03 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $19.24 billion, a P/E ratio of 9.64 and a beta of 1.87. The business has a 50 day simple moving average of $146.31. Ameriprise Financial, Inc. has a 12-month low of $95.69 and a 12-month high of $153.91.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.03 billion. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 15.9 EPS for the current fiscal year.
In related news, EVP Randy Kupper sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $150.38, for a total value of $775,960.80. Following the transaction, the executive vice president now owns 23,656 shares of the company’s stock, valued at $3,557,389.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
AMP has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Ameriprise Financial from $146.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup lifted their price target on shares of Ameriprise Financial from $153.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Ameriprise Financial upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Zacks Investment Research downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Finally, UBS Group raised their price objective on shares of Ameriprise Financial from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ameriprise Financial presently has a consensus rating of “Buy” and a consensus price target of $171.56.
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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