Ameriprise Financial, Inc. (AMP) Stake Lessened by IndexIQ Advisors LLC
IndexIQ Advisors LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 26.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,019 shares of the financial services provider’s stock after selling 12,297 shares during the quarter. IndexIQ Advisors LLC’s holdings in Ameriprise Financial were worth $4,486,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. boosted its holdings in shares of Ameriprise Financial by 81.5% in the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after buying an additional 88 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $30,000. Enlightenment Research LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $31,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Ameriprise Financial by 9,885.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock worth $33,000 after buying an additional 3,379,445 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth approximately $36,000. 85.72% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on AMP. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a report on Tuesday, April 30th. Royal Bank of Canada set a $147.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, April 26th. UBS Group raised their target price on shares of Ameriprise Financial from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays raised their target price on shares of Ameriprise Financial from $146.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Citigroup raised their target price on shares of Ameriprise Financial from $153.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Ameriprise Financial currently has a consensus rating of “Buy” and an average target price of $170.67.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.14. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the business earned $3.70 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.97 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.88 dividend on an annualized basis and a yield of 2.72%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.97%.
In other Ameriprise Financial news, EVP Colin Moore sold 24,032 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the sale, the executive vice president now owns 56,447 shares in the company, valued at approximately $7,543,577.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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