DekaBank Deutsche Girozentrale Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

DekaBank Deutsche Girozentrale lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,400 shares of the financial services provider’s stock after buying an additional 10,423 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of Ameriprise Financial worth $25,723,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after acquiring an additional 26 shares in the last quarter. Aua Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC boosted its holdings in shares of Ameriprise Financial by 1.5% in the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 27 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 28 shares in the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Ameriprise Financial by 3.7% in the first quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 28 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP traded down $15.75 during midday trading on Friday, reaching $402.61. 679,597 shares of the company’s stock were exchanged, compared to its average volume of 551,653. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. The stock has a market capitalization of $39.99 billion, a PE ratio of 13.70, a P/E/G ratio of 0.73 and a beta of 1.37. The business’s 50-day moving average price is $430.64 and its 200 day moving average price is $419.58. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.44 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Evercore ISI boosted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial 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.