Ameriprise Financial, Inc. $AMP Shares Purchased by YANKCOM Partnership

YANKCOM Partnership raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,428 shares of the financial services provider’s stock after buying an additional 226 shares during the period. Ameriprise Financial makes up about 0.9% of YANKCOM Partnership’s holdings, making the stock its 21st biggest holding. YANKCOM Partnership’s holdings in Ameriprise Financial were worth $1,830,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMP. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after acquiring an additional 266,631 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after acquiring an additional 189,525 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.7%

AMP opened at $441.93 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a market cap of $41.06 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.07 and a beta of 1.28. The firm’s 50-day simple moving average is $476.20 and its 200-day simple moving average is $501.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the prior year, the firm earned $9.02 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI reduced their price objective 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Finally, Royal Bank Of Canada cut their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $533.22.

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.