Gamco Investors INC. ET AL reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,489 shares of the financial services provider’s stock after selling 460 shares during the period. Gamco Investors INC. ET AL’s holdings in Ameriprise Financial were worth $2,829,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. lifted its position in Ameriprise Financial by 81.5% during the 1st quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 88 shares during the last quarter. Advantage Investment Management LLC bought a new stake in Ameriprise Financial in the second quarter valued at about $29,000. Farmers National Bank bought a new stake in Ameriprise Financial in the first quarter valued at about $31,000. Hanson McClain Inc. grew its stake in Ameriprise Financial by 232.0% during the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Finally, NEXT Financial Group Inc grew its stake in Ameriprise Financial by 46.6% during the second quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock worth $34,000 after buying an additional 75 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors.
Shares of Ameriprise Financial stock opened at $147.43 on Friday. Ameriprise Financial, Inc. has a 1 year low of $95.69 and a 1 year high of $153.91. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $18.93 billion, a PE ratio of 9.87 and a beta of 1.83. The firm’s 50 day moving average is $133.38 and its 200 day moving average is $139.43.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.00 by $0.06. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 16.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $3.88 annualized dividend and a yield of 2.63%. Ameriprise Financial’s payout ratio is 25.97%.
Several analysts have recently commented on the stock. ValuEngine cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. UBS Group cut their price objective on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Citigroup cut their price objective on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley cut their target price on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Finally, Argus began coverage on shares of Ameriprise Financial in a research report on Friday, July 5th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Ameriprise Financial currently has a consensus rating of “Buy” and a consensus target price of $174.88.
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.
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