Dakota Wealth Management bought a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 842 shares of the financial services provider’s stock, valued at approximately $258,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ameriprise Financial by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,925,117 shares of the financial services provider’s stock worth $3,508,434,000 after purchasing an additional 84,131 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,405,659 shares of the financial services provider’s stock worth $748,008,000 after purchasing an additional 15,491 shares during the last quarter. Morgan Stanley increased its position in shares of Ameriprise Financial by 9.0% during the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after purchasing an additional 195,537 shares during the last quarter. Edmp Inc. increased its position in shares of Ameriprise Financial by 31,635.5% during the 4th quarter. Edmp Inc. now owns 2,278,294 shares of the financial services provider’s stock worth $7,317,000 after purchasing an additional 2,271,115 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Ameriprise Financial by 2.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,044,344 shares of the financial services provider’s stock valued at $515,072,000 after acquiring an additional 48,641 shares in the last quarter. 82.61% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have weighed in on AMP. StockNews.com raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada dropped their target price on Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday, April 27th. Finally, Morgan Stanley dropped their target price on Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $349.70.
Ameriprise Financial Stock Performance
Ameriprise Financial (NYSE:AMP – Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.04. Ameriprise Financial had a return on equity of 77.32% and a net margin of 15.41%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company posted $5.98 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 30.05 earnings per share for the current fiscal year.
Ameriprise Financial Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 5th. This represents a $0.40 annualized dividend and a yield of 0.12%. Ameriprise Financial’s dividend payout ratio is currently 27.43%.
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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