Ameriprise Financial (AMP) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in Ameriprise Financial (NYSE:AMP) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,575 shares of the financial services provider’s stock after buying an additional 6,425 shares during the period. Raymond James & Associates’ holdings in Ameriprise Financial were worth $6,198,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMP. Carillon Tower Advisers Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter worth $54,782,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter worth $47,935,000. Point72 Asset Management L.P. bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $22,262,000. Allianz Asset Management GmbH increased its holdings in shares of Ameriprise Financial by 19.0% in the 4th quarter. Allianz Asset Management GmbH now owns 936,100 shares of the financial services provider’s stock worth $158,640,000 after buying an additional 149,566 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Ameriprise Financial by 28.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 649,098 shares of the financial services provider’s stock worth $96,398,000 after buying an additional 144,260 shares during the last quarter. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have recently commented on AMP shares. UBS started coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target on the stock. Deutsche Bank started coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a report on Wednesday, January 10th. ValuEngine lowered shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, SunTrust Banks increased their price target on shares of Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $171.56.

In related news, CEO William F. Truscott sold 31,379 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the transaction, the chief executive officer now owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $174.04, for a total transaction of $957,220.00. Following the transaction, the executive vice president now directly owns 8,138 shares in the company, valued at approximately $1,416,337.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,260 shares of company stock worth $7,105,121. 1.50% of the stock is owned by insiders.

AMP stock opened at $147.94 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial has a 52 week low of $118.84 and a 52 week high of $183.90. The firm has a market cap of $21,648.39, a P/E ratio of 12.04 and a beta of 1.84.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business posted $2.46 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. research analysts expect that Ameriprise Financial will post 14.43 earnings per share for the current year.

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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 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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