International Assets Investment Management LLC Takes $456.89 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

International Assets Investment Management LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 97,251 shares of the financial services provider’s stock, valued at approximately $456,890,000.

Several other large investors also recently bought and sold shares of the business. Greenleaf Trust boosted its holdings in shares of Ameriprise Financial by 0.6% during the 3rd quarter. Greenleaf Trust now owns 4,901 shares of the financial services provider’s stock worth $2,303,000 after purchasing an additional 30 shares during the last quarter. Private Advisor Group LLC boosted its stake in Ameriprise Financial by 10.5% during the third quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock worth $3,015,000 after buying an additional 612 shares during the last quarter. BLB&B Advisors LLC grew its holdings in Ameriprise Financial by 5.0% in the 3rd quarter. BLB&B Advisors LLC now owns 969 shares of the financial services provider’s stock valued at $455,000 after buying an additional 46 shares in the last quarter. Eastern Bank acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth $657,000. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Ameriprise Financial by 55.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,503 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 1,952 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $503.24 on Friday. The stock has a market capitalization of $49.98 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50-day moving average of $464.19 and a 200 day moving average of $439.06. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $524.89.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.44 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMP shares. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $480.44.

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.