Pearl River Capital LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,896 shares of the financial services provider’s stock, valued at approximately $585,000.
A number of other hedge funds have also modified their holdings of the business. Advisor Group Holdings Inc. bought a new position in shares of Ameriprise Financial in the first quarter worth $2,824,000. Raymond James & Associates increased its holdings in shares of Ameriprise Financial by 34.0% in the second quarter. Raymond James & Associates now owns 100,862 shares of the financial services provider’s stock worth $15,133,000 after purchasing an additional 25,604 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Ameriprise Financial by 3.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 22,595 shares of the financial services provider’s stock worth $2,316,000 after purchasing an additional 803 shares during the period. HNP Capital LLC bought a new position in shares of Ameriprise Financial in the second quarter worth $364,000. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Ameriprise Financial by 6.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 73,325 shares of the financial services provider’s stock worth $11,002,000 after purchasing an additional 4,156 shares during the period. 82.87% of the stock is currently owned by institutional investors and hedge funds.
In other Ameriprise Financial news, insider John Robert Woerner sold 9,873 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $163.83, for a total transaction of $1,617,493.59. Following the completion of the transaction, the insider now owns 54,152 shares of the company’s stock, valued at $8,871,722.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.
AMP stock traded down $1.50 during trading on Thursday, reaching $155.35. The company had a trading volume of 12,366 shares, compared to its average volume of 632,114. Ameriprise Financial, Inc. has a 52 week low of $80.01 and a 52 week high of $180.85. The business has a 50 day moving average of $153.75 and a 200 day moving average of $138.33. The company has a market cap of $18.82 billion, a P/E ratio of 8.18 and a beta of 1.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.84 and a quick ratio of 0.84.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $2.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.94 by ($0.30). Ameriprise Financial had a net margin of 20.32% and a return on equity of 34.48%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $4.06 EPS. Ameriprise Financial’s revenue for the quarter was down 14.8% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 16.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, August 7th. Ameriprise Financial’s dividend payout ratio is 25.84%.
Several research firms have recently weighed in on AMP. Goldman Sachs Group raised shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $125.00 to $185.00 in a report on Thursday, June 25th. TheStreet raised shares of Ameriprise Financial from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Thursday. ValuEngine lowered shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, UBS Group upped their target price on shares of Ameriprise Financial from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $175.45.
Ameriprise Financial Profile
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
Featured Article: Intrinsic Value
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.