Asset Management One Co. Ltd. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,820 shares of the financial services provider’s stock after selling 1,571 shares during the period. Asset Management One Co. Ltd.’s holdings in Ameriprise Financial were worth $13,124,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its stake in shares of Ameriprise Financial by 43.3% during the first quarter. Mackenzie Financial Corp now owns 14,167 shares of the financial services provider’s stock valued at $4,342,000 after buying an additional 4,283 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Ameriprise Financial by 3.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 51,248 shares of the financial services provider’s stock worth $15,258,000 after purchasing an additional 1,913 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth $270,000. Penserra Capital Management LLC boosted its stake in shares of Ameriprise Financial by 1,247.1% during the first quarter. Penserra Capital Management LLC now owns 7,719 shares of the financial services provider’s stock valued at $2,364,000 after purchasing an additional 7,146 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Ameriprise Financial by 5.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,014 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 50 shares during the last quarter. 82.61% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of 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. StockNews.com raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Royal Bank of Canada decreased their target price on Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $353.00.
Ameriprise Financial Trading Up 0.9 %
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.04. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Ameriprise Financial had a return on equity of 77.32% and a net margin of 15.41%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.98 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 29.95 EPS for the current fiscal year.
Ameriprise Financial Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were issued a $0.10 dividend. 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 (DPR) is presently 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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