BlackRock Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,439,503 shares of the financial services provider’s stock after selling 63,914 shares during the period. BlackRock Inc. owned 7.22% of Ameriprise Financial worth $1,544,421,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its holdings in Ameriprise Financial by 11.5% during the first quarter. Eagle Asset Management Inc. now owns 552,856 shares of the financial services provider’s stock worth $81,789,000 after purchasing an additional 57,126 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Ameriprise Financial by 55.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,375 shares of the financial services provider’s stock worth $795,000 after purchasing an additional 1,923 shares in the last quarter. Columbus Circle Investors raised its holdings in Ameriprise Financial by 16.4% during the first quarter. Columbus Circle Investors now owns 140,247 shares of the financial services provider’s stock worth $20,748,000 after purchasing an additional 19,734 shares in the last quarter. Usca Ria LLC bought a new stake in Ameriprise Financial during the first quarter worth approximately $2,547,000. Finally, Affinity Investment Advisors LLC bought a new stake in Ameriprise Financial during the first quarter worth approximately $2,172,000. 82.93% of the stock is currently owned by hedge funds and other institutional investors.
NYSE AMP opened at $142.62 on Friday. The firm has a market capitalization of $20.86 billion, a price-to-earnings ratio of 11.62 and a beta of 1.86. Ameriprise Financial, Inc. has a 1 year low of $118.84 and a 1 year high of $183.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87.
The company also recently announced a quarterly dividend, which was paid on Friday, May 18th. Shareholders of record on Monday, May 7th were paid a dividend of $0.90 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, May 4th. Ameriprise Financial’s payout ratio is 29.34%.
In other news, VP Walter Stanley Berman bought 3,728 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were bought at an average cost of $134.12 per share, with a total value of $499,999.36. Following the purchase, the vice president now directly owns 25,076 shares in the company, valued at $3,363,193.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James M. Cracchiolo bought 7,400 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were purchased at an average cost of $136.04 per share, for a total transaction of $1,006,696.00. Following the completion of the purchase, 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. 1.50% of the stock is owned by insiders.
Several equities research analysts recently commented on AMP shares. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 9th. ValuEngine cut Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley dropped their price target on Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, April 5th. Sandler O’Neill set a $150.00 price target on Ameriprise Financial and gave the company a “hold” rating in a report on Thursday, April 5th. Finally, UBS initiated coverage on Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ameriprise Financial has a consensus rating of “Hold” and an average price target of $167.22.
Ameriprise Financial 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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