Ameriprise Financial, Inc. $AMP Stock Holdings Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,075 shares of the financial services provider’s stock after buying an additional 45,923 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ameriprise Financial were worth $194,572,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ameriprise Financial by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock valued at $1,500,115,000 after buying an additional 47,584 shares during the last quarter. Norges Bank acquired a new stake in Ameriprise Financial during the second quarter worth about $693,736,000. Finally, Boston Partners boosted its stake in Ameriprise Financial by 3.1% in the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after acquiring an additional 35,500 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $555.67.

Insider Activity

In other news, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,158 shares of company stock valued at $9,675,085 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $473.38 on Monday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market cap of $43.98 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. The company’s 50-day moving average price is $502.37 and its two-hundred day moving average price is $490.79.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.