SVB Wealth LLC Has $3.80 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

SVB Wealth LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,662 shares of the financial services provider’s stock after purchasing an additional 201 shares during the quarter. SVB Wealth LLC’s holdings in Ameriprise Financial were worth $3,798,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMP. Norges Bank bought a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $514,539,000. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. First Trust Advisors LP increased its stake in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc increased its stake in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Ameriprise Financial by 104.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after acquiring an additional 195,475 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Down 1.7 %

Shares of AMP stock traded down $7.49 on Monday, reaching $432.05. 356,613 shares of the company were exchanged, compared to its average volume of 488,712. The company has a market cap of $42.91 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.69 and a beta of 1.37. The company has a 50-day moving average of $431.95 and a 200-day moving average of $418.23. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $449.94.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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 for 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 business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.44 EPS. Analysts anticipate that Ameriprise Financial, Inc. will post 34.89 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.37%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMP. 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 research note on Monday. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group decreased their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Evercore ISI boosted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $463.22.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.