Boston Private Wealth LLC Boosts Holdings in Ameriprise Financial, Inc. (AMP)

Boston Private Wealth LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,663 shares of the financial services provider’s stock after buying an additional 2,606 shares during the period. Boston Private Wealth LLC owned approximately 0.07% of Ameriprise Financial worth $14,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pitcairn Co. increased its holdings in shares of Ameriprise Financial by 20.5% in the first quarter. Pitcairn Co. now owns 18,475 shares of the financial services provider’s stock valued at $2,733,000 after buying an additional 3,138 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Ameriprise Financial by 484.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 81,504 shares of the financial services provider’s stock valued at $12,058,000 after buying an additional 67,566 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Ameriprise Financial by 42.5% in the first quarter. OppenheimerFunds Inc. now owns 405,510 shares of the financial services provider’s stock valued at $59,991,000 after buying an additional 120,909 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at $360,000. Finally, Quadrature Capital Ltd bought a new position in shares of Ameriprise Financial in the first quarter valued at $4,731,000. 82.93% of the stock is currently owned by institutional investors.

NYSE AMP opened at $138.63 on Friday. Ameriprise Financial, Inc. has a twelve month low of $118.84 and a twelve month high of $183.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 11.30 and a beta of 1.86.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.24. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company posted $2.52 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. equities analysts expect that Ameriprise Financial, Inc. will post 14.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 18th. Stockholders of record on Monday, May 7th were issued a dividend of $0.90 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, May 4th. Ameriprise Financial’s payout ratio is currently 29.34%.

In related news, CEO James M. Cracchiolo purchased 7,400 shares of the stock in a transaction dated Thursday, May 10th. The shares were acquired at an average cost of $136.04 per share, for a total transaction of $1,006,696.00. Following the acquisition, the chief executive officer now directly owns 242,416 shares in the company, valued at approximately $32,978,272.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Walter Stanley Berman purchased 3,728 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were bought at an average price of $134.12 per share, for a total transaction of $499,999.36. Following the completion of the acquisition, the vice president now owns 25,076 shares in the company, valued at $3,363,193.12. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research raised Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. SunTrust Banks lowered their price objective on shares of Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Credit Suisse Group began coverage on shares of Ameriprise Financial in a research report on Wednesday, April 25th. They set a “neutral” rating and a $154.00 price objective on the stock. Royal Bank of Canada set a $158.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Finally, Sandler O’Neill set a $158.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $167.22.

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.

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).

Institutional Ownership by Quarter for Ameriprise Financial (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.

Leave a Reply