Sciencast Management LP Purchases 6,665 Shares of Ameriprise Financial, Inc. (AMP)

Sciencast Management LP lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 138.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,470 shares of the financial services provider’s stock after acquiring an additional 6,665 shares during the period. Ameriprise Financial comprises approximately 0.8% of Sciencast Management LP’s holdings, making the stock its 10th largest holding. Sciencast Management LP’s holdings in Ameriprise Financial were worth $1,652,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CHICAGO TRUST Co NA raised its position in shares of Ameriprise Financial by 4.5% during the 1st quarter. CHICAGO TRUST Co NA now owns 15,361 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 668 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ameriprise Financial by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 669,488 shares of the financial services provider’s stock worth $99,044,000 after buying an additional 6,978 shares during the period. AXA increased its position in Ameriprise Financial by 26.3% in the fourth quarter. AXA now owns 497,212 shares of the financial services provider’s stock worth $84,262,000 after buying an additional 103,465 shares during the period. A.R.T. Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter worth $7,627,000. Finally, Delpha Capital Management LLC acquired a new stake in Ameriprise Financial in the first quarter worth $283,000. 82.93% of the stock is currently owned by institutional investors and hedge funds.

In other Ameriprise Financial news, CEO James M. Cracchiolo purchased 7,400 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was bought at an average price of $136.04 per share, with a total value of $1,006,696.00. Following the completion of the purchase, the chief executive officer now owns 242,416 shares in the company, valued at approximately $32,978,272.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Walter Stanley Berman purchased 3,728 shares of the firm’s stock in a transaction dated Wednesday, May 2nd. The stock was acquired at an average cost of $134.12 per share, with a total value of $499,999.36. Following the purchase, the vice president now owns 25,076 shares of the company’s stock, valued at approximately $3,363,193.12. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Thursday, March 22nd. UBS Group assumed coverage on Ameriprise Financial in a research report on Friday, March 2nd. They issued a “buy” rating and a $217.00 target price on the stock. Deutsche Bank assumed coverage on Ameriprise Financial in a research report on Friday, March 2nd. They issued a “buy” rating on the stock. Sandler O’Neill set a $150.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research report on Thursday, April 5th. Finally, Morgan Stanley dropped their target price on Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, April 5th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ameriprise Financial currently has an average rating of “Hold” and an average target price of $167.22.

Ameriprise Financial opened at $146.85 on Thursday, Marketbeat.com reports. Ameriprise Financial, Inc. has a 1 year low of $125.07 and a 1 year high of $183.90. The firm has a market capitalization of $21.32 billion, a PE ratio of 11.97 and a beta of 1.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, May 18th. Stockholders of record on Monday, May 7th were paid a $0.90 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, May 4th. This represents a $3.60 annualized dividend and a dividend yield of 2.45%. Ameriprise Financial’s dividend payout ratio is presently 29.34%.

Ameriprise Financial Company 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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