Kepler Cheuvreux Suisse SA Purchases New Stake in Ameriprise Financial, Inc. $AMP

Kepler Cheuvreux Suisse SA purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,287 shares of the financial services provider’s stock, valued at approximately $3,580,000.

Other large investors have also added to or reduced their stakes in the company. Winnow Wealth LLC bought a new position in shares of Ameriprise Financial during the second quarter valued at about $32,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the third quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at about $32,000. WFA of San Diego LLC purchased a new position in Ameriprise Financial during the 2nd quarter valued at about $36,000. Finally, Salomon & Ludwin LLC raised its position in Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.3%

AMP opened at $455.49 on Wednesday. The stock has a market cap of $41.53 billion, a PE ratio of 12.53, a PEG ratio of 1.08 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $494.44 and a 200-day moving average of $486.23. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $9.54 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 in the last three months. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Argus decreased their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $555.67.

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.