Rockefeller Capital Management L.P. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 232.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,571 shares of the financial services provider’s stock after purchasing an additional 1,798 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ameriprise Financial were worth $330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Ameriprise Financial by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,359 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 77 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Ameriprise Financial by 40.4% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 80 shares in the last quarter. Stewart & Patten Co. LLC boosted its stake in Ameriprise Financial by 2.5% in the first quarter. Stewart & Patten Co. LLC now owns 3,330 shares of the financial services provider’s stock worth $427,000 after buying an additional 82 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Ameriprise Financial by 2.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,075 shares of the financial services provider’s stock worth $522,000 after buying an additional 87 shares in the last quarter. Finally, MV Capital Management Inc. boosted its stake in 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 in the last quarter. 81.16% of the stock is owned by institutional investors.

AMP stock traded down $1.81 during midday trading on Wednesday, hitting $150.11. The company had a trading volume of 9,930 shares, compared to its average volume of 934,971. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81. Ameriprise Financial, Inc. has a 52 week low of $95.69 and a 52 week high of $153.15. The company has a market capitalization of $20.17 billion, a P/E ratio of 10.08 and a beta of 1.86.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.14. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.88 annualized dividend and a yield of 2.58%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.90. Ameriprise Financial’s payout ratio is presently 25.97%.

Several brokerages have issued reports on AMP. Citigroup set a $178.00 target price on Ameriprise Financial and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Ameriprise Financial raised Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Credit Suisse Group raised Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada set a $147.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $171.56.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $150.38, for a total value of $775,960.80. Following the completion of the sale, the executive vice president now owns 23,656 shares in the company, valued at $3,557,389.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

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Ameriprise Financial 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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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