Allstate Corp Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Allstate Corp bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,302 shares of the financial services provider’s stock, valued at approximately $423,000.

Several other large investors also recently added to or reduced their stakes in AMP. State of Tennessee Treasury Department grew its stake in shares of Ameriprise Financial by 14.0% in the fourth quarter. State of Tennessee Treasury Department now owns 36,114 shares of the financial services provider’s stock valued at $3,769,000 after acquiring an additional 4,445 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in shares of Ameriprise Financial by 8.3% in the first quarter. Palisade Asset Management LLC now owns 4,160 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 320 shares during the last quarter. Financial Counselors Inc. lifted its holdings in shares of Ameriprise Financial by 6.5% in the first quarter. Financial Counselors Inc. now owns 104,018 shares of the financial services provider’s stock worth $13,325,000 after acquiring an additional 6,323 shares during the last quarter. National Pension Service increased its stake in shares of Ameriprise Financial by 6.0% in the fourth quarter. National Pension Service now owns 180,301 shares of the financial services provider’s stock valued at $22,927,000 after buying an additional 10,160 shares during the period. Finally, Blueshift Asset Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $356,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

A number of research firms have weighed in on AMP. Ameriprise Financial raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their target price for the company from $145.00 to $202.00 in a research report on Monday, May 13th. Argus assumed coverage on shares of Ameriprise Financial in a research report on Friday, July 5th. They set a “buy” rating for the company. Royal Bank of Canada set a $147.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Friday, April 26th. Morgan Stanley increased their target price on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Zacks Investment Research cut German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $173.56.

In other 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 transaction of $775,960.80. Following the transaction, the executive vice president now directly owns 23,656 shares of the company’s stock, valued at $3,557,389.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by insiders.

AMP stock traded up $0.72 during mid-day trading on Friday, reaching $151.14. 390,241 shares of the company traded hands, compared to its average volume of 931,301. The stock has a market capitalization of $20.11 billion, a P/E ratio of 10.12 and a beta of 1.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $147.46. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $153.91.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, topping the Zacks’ 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 company 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 EPS. Ameriprise Financial’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current fiscal year.

About Ameriprise Financial

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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