Ameriprise Financial, Inc. $AMP Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 43.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,279 shares of the financial services provider’s stock after buying an additional 11,504 shares during the period. Allianz Asset Management GmbH’s holdings in Ameriprise Financial were worth $18,805,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AE Wealth Management LLC grew its holdings in Ameriprise Financial by 104.2% during the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after acquiring an additional 2,022 shares in the last quarter. National Pension Service lifted its position in shares of Ameriprise Financial by 4.6% during the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after purchasing an additional 6,724 shares during the last quarter. Arjuna Capital grew its stake in Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares in the last quarter. Mediolanum International Funds Ltd increased its holdings in Ameriprise Financial by 23.0% in the third quarter. Mediolanum International Funds Ltd now owns 47,758 shares of the financial services provider’s stock valued at $23,859,000 after buying an additional 8,927 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Ameriprise Financial during the third quarter valued at approximately $1,454,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 1.6%

Shares of NYSE:AMP opened at $543.46 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $499.62 and its 200 day moving average price is $492.31. The company has a market cap of $50.49 billion, a PE ratio of 14.95, a P/E/G ratio of 1.25 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43.

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

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMP has been the subject of several research reports. Keefe, Bruyette & Woods decreased their target price 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. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $555.67.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.