Prudential PLC Boosts Stake in Ameriprise Financial, Inc. $AMP

Prudential PLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 50.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,875 shares of the financial services provider’s stock after acquiring an additional 632 shares during the period. Prudential PLC’s holdings in Ameriprise Financial were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC lifted its holdings in Ameriprise Financial by 4.2% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,735 shares of the financial services provider’s stock worth $8,932,000 after purchasing an additional 667 shares during the period. NorthRock Partners LLC raised its holdings in shares of Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after purchasing an additional 897 shares in the last quarter. Ascent Group LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $371,000. Advisory Alpha LLC acquired a new stake in Ameriprise Financial during the first quarter worth $265,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock valued at $53,731,000 after acquiring an additional 4,232 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMP shares. Argus dropped 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. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Evercore ISI cut their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada decreased their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $447.55 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50 day moving average of $475.21 and a 200 day moving average of $501.62. The company has a market capitalization of $41.58 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the firm posted $9.02 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is currently 17.55%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.