KBC Group NV Grows Position in Ameriprise Financial, Inc. $AMP

KBC Group NV raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,483 shares of the financial services provider’s stock after acquiring an additional 445 shares during the quarter. KBC Group NV’s holdings in Ameriprise Financial were worth $71,777,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC raised its stake in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the last quarter. TD Capital Management LLC boosted its stake in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth about $29,000. Salomon & Ludwin LLC boosted its position in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMP. Royal Bank Of Canada dropped their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $530.63.

Ameriprise Financial Trading Up 1.2%

NYSE AMP opened at $464.78 on Wednesday. The firm has a market capitalization of $43.18 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company’s 50 day moving average price is $482.70 and its 200 day moving average price is $502.97.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the business earned $9.02 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

About Ameriprise Financial

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.