Resona Asset Management Co. Ltd. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,104 shares of the financial services provider's stock, valued at approximately $16,044,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Ameriprise Financial in the fourth quarter worth $689,272,000. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after purchasing an additional 371,306 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Finally, Amundi grew its stake in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after purchasing an additional 208,195 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last ninety days. Company insiders own 0.73% of the company's stock.
Wall Street Analyst Weigh In
AMP has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a report on Wednesday. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday. Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $510.20.
Get Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Stock Performance
Shares of NYSE:AMP traded up $2.39 on Friday, hitting $458.91. The company's stock had a trading volume of 152,055 shares, compared to its average volume of 494,633. The company has a market capitalization of $44.11 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock's 50-day moving average is $502.39 and its two-hundred day moving average is $523.02.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.
Ameriprise Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.29%. Ameriprise Financial's payout ratio is 17.91%.
Ameriprise Financial Company Profile
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Free Report)
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.
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