Optimize Financial Inc Buys Shares of 922 Ameriprise Financial, Inc. $AMP

Optimize Financial Inc purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, Holdings Channel reports. The fund purchased 922 shares of the financial services provider’s stock, valued at approximately $453,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares during the period. Norges Bank acquired a new position in Ameriprise Financial in the 2nd quarter valued at $693,736,000. Finally, Boston Partners raised its holdings in Ameriprise Financial by 3.1% in the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after acquiring an additional 35,500 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 2.7%

Shares of AMP stock opened at $544.61 on Thursday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a fifty day moving average price of $496.25 and a 200 day moving average price of $491.95. The stock has a market cap of $50.60 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.54 EPS. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is 17.60%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMP shares. Argus decreased their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Evercore ISI lowered their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.