Illinois Municipal Retirement Fund Boosts Stake in Ameriprise Financial, Inc. $AMP

Illinois Municipal Retirement Fund grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,890 shares of the financial services provider’s stock after acquiring an additional 3,141 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ameriprise Financial were worth $8,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC increased its position in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Ameriprise Financial by 93.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,295 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 627 shares during the period. Finally, RFG Advisory LLC lifted its holdings in shares of Ameriprise Financial by 2.2% during the 2nd quarter. RFG Advisory LLC now owns 2,094 shares of the financial services provider’s stock valued at $1,118,000 after acquiring an additional 45 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated 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 directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,158 shares of company stock valued at $9,675,085 in the last 90 days. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 1.3%

Shares of AMP opened at $473.38 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $552.43. The stock has a 50-day moving average price of $502.37 and a 200 day moving average price of $491.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $43.98 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.09 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the company posted $9.54 EPS. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 yield of 1.4%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is 17.60%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday. Morgan Stanley boosted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $555.67.

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.