Ameriprise Financial, Inc. (AMP) Shares Bought by Fmr LLC

Fmr LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 65.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,079,355 shares of the financial services provider’s stock after buying an additional 825,832 shares during the period. Fmr LLC’s holdings in Ameriprise Financial were worth $290,861,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMP. BlackRock Inc. raised its stake in Ameriprise Financial by 3.8% in the 2nd quarter. BlackRock Inc. now owns 10,832,182 shares of the financial services provider’s stock valued at $1,515,207,000 after purchasing an additional 392,679 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ameriprise Financial by 14.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,095,187 shares of the financial services provider’s stock valued at $432,954,000 after purchasing an additional 382,319 shares during the last quarter. American Century Companies Inc. raised its stake in Ameriprise Financial by 26.9% in the 2nd quarter. American Century Companies Inc. now owns 1,796,655 shares of the financial services provider’s stock valued at $251,316,000 after purchasing an additional 380,361 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in Ameriprise Financial by 20.8% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 916,531 shares of the financial services provider’s stock valued at $97,538,000 after purchasing an additional 158,114 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Ameriprise Financial by 177.4% in the 2nd quarter. Retirement Systems of Alabama now owns 193,931 shares of the financial services provider’s stock valued at $27,127,000 after purchasing an additional 124,025 shares during the last quarter. 81.70% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:AMP opened at $123.09 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.66 and a quick ratio of 0.69. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 8.53 and a beta of 1.80. Ameriprise Financial, Inc. has a 52-week low of $120.79 and a 52-week high of $183.90.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.37. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Ameriprise Financial had a return on equity of 37.21% and a net margin of 13.58%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.12 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 15.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, November 2nd. Ameriprise Financial’s payout ratio is currently 29.34%.

AMP has been the subject of several recent research reports. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research note on Friday, October 5th. UBS Group reduced their price objective on Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Barclays reduced their price objective on Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, July 9th. Royal Bank of Canada set a $160.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research note on Friday, October 12th. Finally, Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Ameriprise Financial presently has an average rating of “Hold” and an average target price of $161.25.

About Ameriprise Financial

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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