Skandinaviska Enskilda Banken AB publ increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,595 shares of the financial services provider’s stock after acquiring an additional 803 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ameriprise Financial were worth $2,316,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Great Lakes Retirement Inc. acquired a new stake in shares of Ameriprise Financial in the first quarter valued at about $521,000. Guggenheim Capital LLC grew its holdings in Ameriprise Financial by 7.7% in the 1st quarter. Guggenheim Capital LLC now owns 22,354 shares of the financial services provider’s stock valued at $2,291,000 after buying an additional 1,595 shares during the last quarter. Tredje AP fonden grew its holdings in Ameriprise Financial by 19.7% in the 1st quarter. Tredje AP fonden now owns 9,544 shares of the financial services provider’s stock valued at $978,000 after buying an additional 1,572 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Ameriprise Financial by 11.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 136,890 shares of the financial services provider’s stock worth $14,029,000 after buying an additional 13,946 shares during the period. Finally, Patton Albertson Miller Group LLC lifted its holdings in shares of Ameriprise Financial by 7.4% during the first quarter. Patton Albertson Miller Group LLC now owns 10,587 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 734 shares during the last quarter. 83.20% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $125.00 to $185.00 in a research note on Thursday, June 25th. Cfra reduced their target price on shares of Ameriprise Financial from $189.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Credit Suisse Group boosted their price target on Ameriprise Financial from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Piper Sandler reduced their price objective on Ameriprise Financial from $145.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. Finally, ValuEngine cut Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $165.40.
Ameriprise Financial stock opened at $148.36 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $80.01 and a 52-week high of $180.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average price of $141.42 and a two-hundred day moving average price of $142.00. The firm has a market capitalization of $17.99 billion, a P/E ratio of 5.49 and a beta of 1.84.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $1.53. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.86 billion. Ameriprise Financial had a net margin of 27.50% and a return on equity of 38.86%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.75 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 16.67 EPS for the current fiscal year.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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