Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 335.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,321 shares of the financial services provider’s stock after purchasing an additional 26,442 shares during the period. Cetera Investment Advisers’ holdings in Ameriprise Financial were worth $15,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC purchased a new position in Ameriprise Financial during the first quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the first quarter valued at $28,000. Annapolis Financial Services LLC increased its position in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at about $32,000. Finally, Benjamin Edwards Inc. purchased a new position in Ameriprise Financial in the 1st quarter valued at about $34,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of AMP opened at $402.61 on Friday. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The firm 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 firm has a 50-day moving average price of $430.64 and a 200 day moving average price of $419.58. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. 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 company earned $7.44 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid 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 yield of 1.47%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Evercore ISI raised their price objective on 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 upped their target price on 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 reduced their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Argus upped their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price 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.