Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 62.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,661 shares of the financial services provider’s stock after purchasing an additional 639 shares during the period. Citizens Financial Group Inc. RI’s holdings in Ameriprise Financial were worth $631,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMP. Barclays PLC boosted its stake in shares of Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after buying an additional 136,621 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Ameriprise Financial by 134.4% in the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock valued at $68,761,000 after buying an additional 119,578 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Ameriprise Financial by 107.0% in the third quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock valued at $69,174,000 after buying an additional 108,461 shares in the last quarter. Payden & Rygel Investment Group purchased a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $28,382,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Ameriprise Financial by 398.5% in the third quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock valued at $33,001,000 after buying an additional 80,020 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMP shares. Evercore ISI lifted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. UBS Group boosted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $449.57.

Insider Activity

In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gerard P. Smyth sold 4,440 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $407.92, for a total value of $1,811,164.80. Following the completion of the transaction, the executive vice president now directly owns 3,787 shares in the company, valued at $1,544,793.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The disclosure for this sale can be found here. Insiders have sold 79,472 shares of company stock worth $31,779,805 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.2 %

Shares of NYSE:AMP opened at $410.01 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 52-week low of $279.85 and a 52-week high of $440.67. The stock’s fifty day simple moving average is $418.65 and its 200-day simple moving average is $381.14. The company has a market capitalization of $41.08 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the business earned $7.25 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is currently 18.38%.

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.