State of Alaska Department of Revenue Acquires 600 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

State of Alaska Department of Revenue raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,369 shares of the financial services provider’s stock after buying an additional 600 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Ameriprise Financial worth $24,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AMP. Wellington Management Group LLP boosted its stake in Ameriprise Financial by 11.4% during the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 630 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Ameriprise Financial by 56.3% in the first quarter. Independence Bank of Kentucky now owns 555 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 200 shares in the last quarter. Vicus Capital purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $227,000. Founders Financial Securities LLC bought a new stake in Ameriprise Financial during the first quarter worth $206,000. Finally, Annapolis Financial Services LLC grew its holdings in Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $482.11.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.1 %

NYSE:AMP opened at $504.48 on Friday. Ameriprise Financial, Inc. has a 12 month low of $307.57 and a 12 month high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $467.23 and its 200 day moving average is $440.06. The stock has a market capitalization of $50.11 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $7.44 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.