Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,206 shares of the financial services provider’s stock after purchasing an additional 193 shares during the period. Ballentine Partners LLC’s holdings in Ameriprise Financial were worth $1,036,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Swedbank AB acquired a new stake in Ameriprise Financial during the 1st quarter worth about $108,938,000. Maj Invest Holding A S purchased a new stake in Ameriprise Financial during the third quarter valued at about $98,742,000. AGF Management Ltd. boosted its holdings in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after buying an additional 131,844 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.1 %

NYSE:AMP opened at $504.48 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $50.11 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.81 and a beta of 1.35. The stock’s 50 day moving average price is $467.23 and its 200 day moving average price is $439.99. Ameriprise Financial, Inc. has a 52 week low of $307.57 and a 52 week high of $524.89.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results 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 business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $7.44 EPS. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $482.11.

Insider Activity

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

Ameriprise Financial Company 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.