Legal & General Group Plc Purchases 11,060 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Legal & General Group Plc raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 823,249 shares of the financial services provider's stock after purchasing an additional 11,060 shares during the quarter. Legal & General Group Plc owned approximately 0.83% of Ameriprise Financial worth $351,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider's stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. First Trust Advisors LP grew its holdings in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider's stock valued at $214,266,000 after buying an additional 512,884 shares in the last quarter. Swedbank AB bought a new position in Ameriprise Financial during the 1st quarter worth $108,938,000. Epoch Investment Partners Inc. lifted its holdings in shares of Ameriprise Financial by 104.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider's stock worth $145,183,000 after buying an additional 195,475 shares in the last quarter. Finally, AGF Management Ltd. boosted its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after acquiring an additional 131,844 shares during the period. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMP. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $470.00 to $460.00 and set a "market perform" rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley dropped their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an "equal weight" rating for the company in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an "outperform" rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $463.00.

Ameriprise Financial Price Performance

NYSE:AMP traded up $1.11 on Friday, hitting $468.62. The company had a trading volume of 603,754 shares, compared to its average volume of 477,271. The firm has a 50 day moving average of $434.13 and a two-hundred day moving average of $430.41. The stock has a market capitalization of $46.55 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $471.57. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $7.44 EPS. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial's dividend payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company's stock, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial 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.