Meeder Asset Management Inc. Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Meeder Asset Management Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,560 shares of the financial services provider’s stock after buying an additional 13,760 shares during the period. Ameriprise Financial makes up approximately 1.6% of Meeder Asset Management Inc.’s holdings, making the stock its 13th largest holding. Meeder Asset Management Inc. owned about 0.06% of Ameriprise Financial worth $25,237,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Ameriprise Financial during the 4th quarter valued at approximately $514,539,000. Dimensional Fund Advisors LP boosted its position in Ameriprise Financial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after acquiring an additional 35,931 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after acquiring an additional 32,312 shares in the last quarter. TD Asset Management Inc boosted its position in Ameriprise Financial by 151.5% during the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 584,707 shares of the financial services provider’s stock valued at $222,089,000 after acquiring an additional 4,811 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

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 completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP traded down $0.47 during mid-day trading on Monday, reaching $445.80. 394,037 shares of the company traded hands, compared to its average volume of 472,248. The stock has a market capitalization of $44.28 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.74 and a beta of 1.37. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $433.25 and its 200-day moving average price is $415.37. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $7.25 EPS. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.91 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.33%. Ameriprise Financial’s payout ratio is currently 20.15%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a report on Monday, July 8th. The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Finally, Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $462.89.

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.