Confluence Investment Management LLC Purchases New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Confluence Investment Management LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 480 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter worth $514,539,000. Dimensional Fund Advisors LP boosted its holdings in Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after acquiring an additional 35,931 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Ameriprise Financial by 2.4% in the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares during the last quarter. Invesco Ltd. raised its stake in shares of Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after purchasing an additional 79,611 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. Insiders have sold 3,376 shares of company stock worth $1,476,274 in the last ninety days. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $437.42 on Wednesday. The firm has a market cap of $43.44 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $425.35 and a 200-day moving average price of $406.53. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $442.79.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company earned $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.95 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMP. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley upped their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with 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.