Gilbert & Cook Inc. acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,486 shares of the financial services provider’s stock, valued at approximately $216,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GWM Advisors LLC acquired a new position in Ameriprise Financial during the 2nd quarter valued at $368,000. Meeder Asset Management Inc. acquired a new position in Ameriprise Financial during the 2nd quarter valued at $103,000. Buckingham Asset Management LLC acquired a new position in Ameriprise Financial during the 2nd quarter valued at $209,000. Eagle Asset Management Inc. raised its stake in Ameriprise Financial by 6.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 540,995 shares of the financial services provider’s stock valued at $78,530,000 after purchasing an additional 33,633 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in Ameriprise Financial by 324.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 17,883 shares of the financial services provider’s stock valued at $2,596,000 after purchasing an additional 13,670 shares during the last quarter. 83.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the stock. Citigroup set a $178.00 price objective on shares of Ameriprise Financial and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group dropped their price objective on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Credit Suisse Group upgraded shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $145.00 to $202.00 in a research note on Monday, May 13th. ValuEngine cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $173.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $176.50.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $0.06. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $3.60 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 16.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, August 2nd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 25.97%.
In related news, EVP Randy Kupper sold 5,160 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.38, for a total transaction of $775,960.80. Following the completion of the sale, the executive vice president now owns 23,656 shares in the company, valued at approximately $3,557,389.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Ameriprise Financial Company 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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
Further Reading: CD Ladder
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