Ameriprise Financial, Inc. (AMP) Stake Increased by Point72 Asia Hong Kong Ltd
Point72 Asia Hong Kong Ltd increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 190.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,304 shares of the financial services provider’s stock after acquiring an additional 1,510 shares during the period. Point72 Asia Hong Kong Ltd’s holdings in Ameriprise Financial were worth $341,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in AMP. Icon Wealth Partners LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $101,000. Capital Analysts LLC raised its position in shares of Ameriprise Financial by 953.0% during the 4th quarter. Capital Analysts LLC now owns 5,981 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 5,413 shares during the period. Lee Financial Co raised its position in shares of Ameriprise Financial by 99.4% during the 4th quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 340 shares during the period. Jacobi Capital Management LLC raised its position in shares of Ameriprise Financial by 89.8% during the 1st quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 414 shares during the period. Finally, Virtue Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $128,000. Hedge funds and other institutional investors own 82.93% of the company’s stock.
In other Ameriprise Financial news, VP Walter Stanley Berman bought 3,728 shares of Ameriprise Financial stock in a transaction dated Wednesday, May 2nd. The shares were purchased at an average cost of $134.12 per share, for a total transaction of $499,999.36. Following the acquisition, the vice president now directly owns 25,076 shares in the company, valued at approximately $3,363,193.12. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Cracchiolo bought 7,400 shares of Ameriprise Financial stock in a transaction dated Thursday, May 10th. The stock was acquired at an average price of $136.04 per share, for a total transaction of $1,006,696.00. Following the completion of the acquisition, the chief executive officer now owns 242,416 shares in the company, valued at $32,978,272.64. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Monday, April 23rd. The financial services provider reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.24. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $2.52 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. equities analysts forecast that Ameriprise Financial, Inc. will post 14.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 18th. Stockholders of record on Monday, May 7th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.46%. Ameriprise Financial’s payout ratio is 29.34%.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research report on Thursday, March 22nd. UBS Group initiated coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target on the stock. Deutsche Bank initiated coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating on the stock. Sandler O’Neill set a $150.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Thursday, April 5th. Finally, Morgan Stanley reduced their price target on shares of Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, April 5th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $167.22.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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