Ameriprise Financial, Inc. $AMP Shares Purchased by Candriam S.C.A.

Candriam S.C.A. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 83.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,839 shares of the financial services provider’s stock after buying an additional 29,116 shares during the quarter. Candriam S.C.A.’s holdings in Ameriprise Financial were worth $31,361,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its position in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth about $32,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. Finally, WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on AMP. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group upped their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley raised their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Trading Down 0.7%

Shares of AMP stock opened at $539.30 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $552.43. The firm’s 50 day moving average price is $501.31 and its two-hundred day moving average price is $491.83. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion during 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%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.54 earnings per share. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The SEC filing for this sale provides additional information. 0.57% of the stock is owned by corporate insiders.

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.