Ameriprise Financial, Inc. $AMP Shares Purchased by State Street Corp

State Street Corp raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,279.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 63,365,362 shares of the financial services provider’s stock after purchasing an additional 58,772,775 shares during the period. Ameriprise Financial accounts for approximately 0.6% of State Street Corp’s portfolio, making the stock its 27th biggest holding. State Street Corp owned approximately 0.70% of Ameriprise Financial worth $29,069,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $742,438,000. Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after acquiring an additional 19,731 shares in the last quarter. First Trust Advisors LP grew its stake in Ameriprise Financial by 18.7% during the 1st quarter. First Trust Advisors LP now owns 983,096 shares of the financial services provider’s stock valued at $436,888,000 after acquiring an additional 154,659 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ameriprise Financial by 2.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 817,247 shares of the financial services provider’s stock valued at $374,920,000 after acquiring an additional 22,819 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $320,948,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 4.6%

NYSE:AMP traded down $24.64 on Tuesday, reaching $511.08. The company’s stock had a trading volume of 527,827 shares, compared to its average volume of 641,899. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The stock has a 50 day moving average price of $549.69 and a 200 day moving average price of $491.19. The firm has a market cap of $45.95 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $9.11 EPS. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares in the company, valued at approximately $398,517.09. The trade was a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last ninety days. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.