MUFG Securities EMEA plc Boosts Stake in Ameriprise Financial, Inc. $AMP

MUFG Securities EMEA plc boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 111.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,809 shares of the financial services provider’s stock after purchasing an additional 2,005 shares during the period. MUFG Securities EMEA plc’s holdings in Ameriprise Financial were worth $1,868,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. PFG Investments LLC lifted its position in shares of Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after buying an additional 21 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 21 shares during the period. EPG Wealth Management LLC lifted its holdings in Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 21 shares in the last quarter. UMB Bank n.a. lifted its holdings in Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Ameriprise Financial by 5.4% in the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares during the period. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley upped their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. 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 research note on Monday, February 2nd. Finally, Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $543.22.

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.3%

Shares of Ameriprise Financial stock opened at $446.93 on Tuesday. The firm has a market cap of $40.18 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.05 and a beta of 1.16. The business has a 50-day moving average price of $455.55 and a 200-day moving average price of $472.92. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.50 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

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.