Close Asset Management Ltd Increases Stake in Ameriprise Financial, Inc. $AMP

Close Asset Management Ltd boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 78.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,149 shares of the financial services provider’s stock after purchasing an additional 203,252 shares during the period. Ameriprise Financial comprises about 5.1% of Close Asset Management Ltd’s holdings, making the stock its 5th largest holding. Close Asset Management Ltd owned about 0.50% of Ameriprise Financial worth $227,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Interchange Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 9.6% during the third quarter. Interchange Capital Partners LLC now owns 883 shares of the financial services provider’s stock worth $435,000 after buying an additional 77 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ameriprise Financial by 3.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 188,476 shares of the financial services provider’s stock worth $92,589,000 after acquiring an additional 6,180 shares during the last quarter. Intech Investment Management LLC increased its holdings in Ameriprise Financial by 92.8% in the 3rd quarter. Intech Investment Management LLC now owns 4,607 shares of the financial services provider’s stock worth $2,263,000 after purchasing an additional 2,217 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Ameriprise Financial in the third quarter valued at about $2,078,000. Finally, MAI Capital Management boosted its stake in shares of Ameriprise Financial by 27.0% during the third quarter. MAI Capital Management now owns 9,311 shares of the financial services provider’s stock valued at $4,574,000 after purchasing an additional 1,977 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods decreased their price target on shares of 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. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Argus decreased their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $486.88 on Friday. The company has a market capitalization of $44.39 billion, a PE ratio of 13.39, a P/E/G ratio of 1.11 and a beta of 1.26. 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 twelve month low of $396.14 and a twelve month high of $550.18. The firm has a fifty day simple moving average of $499.40 and a 200 day simple moving average of $488.88.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $9.54 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

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.