Keybank National Association OH grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,385 shares of the financial services provider’s stock after buying an additional 3,937 shares during the period. Keybank National Association OH’s holdings in Ameriprise Financial were worth $18,201,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 22.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 984,359 shares of the financial services provider’s stock worth $102,736,000 after purchasing an additional 181,115 shares during the period. Geode Capital Management LLC grew its stake in Ameriprise Financial by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,951,406 shares of the financial services provider’s stock worth $203,334,000 after purchasing an additional 107,830 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Ameriprise Financial by 40.4% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 80 shares during the period. Pennsylvania Trust Co grew its stake in Ameriprise Financial by 434.2% during the first quarter. Pennsylvania Trust Co now owns 136,749 shares of the financial services provider’s stock worth $21,890,000 after purchasing an additional 111,149 shares during the period. Finally, Leavell Investment Management Inc. acquired a new stake in Ameriprise Financial during the first quarter worth approximately $235,000. 82.85% of the stock is owned by institutional investors.
In other news, EVP Randy Kupper sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $150.38, for a total value of $775,960.80. Following the transaction, the executive vice president now owns 23,656 shares in the company, valued at $3,557,389.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.00 by $0.06. Ameriprise Financial had a return on equity of 37.73% and a net margin of 15.03%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 16.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be issued a $0.97 dividend. The ex-dividend date is Friday, August 2nd. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.17%. Ameriprise Financial’s dividend payout ratio is presently 25.97%.
Several equities research analysts recently commented on the company. Argus assumed coverage on Ameriprise Financial in a research note on Friday, July 5th. They set a “buy” rating for the company. Royal Bank of Canada set a $145.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine cut Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Tuesday, April 30th. Finally, Citigroup set a $178.00 price objective on Ameriprise Financial and gave the company a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Ameriprise Financial has a consensus rating of “Buy” and an average price target of $176.50.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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