JPMorgan Chase & Co. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,513,727 shares of the financial services provider’s stock after purchasing an additional 225,572 shares during the quarter. JPMorgan Chase & Co. owned 3.87% of Ameriprise Financial worth $1,049,216,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AMP. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. Better Money Decisions LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $27,000. CVA Family Office LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth $28,000. Inspire Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $29,000. Finally, Liberty Wealth Management LLC increased its stake in shares of Ameriprise Financial by 146.2% during the fourth quarter. Liberty Wealth Management LLC now owns 160 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 95 shares during the period. 81.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Gerard P. Smyth sold 970 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $259.64, for a total value of $251,850.80. Following the sale, the executive vice president now directly owns 13,969 shares of the company’s stock, valued at $3,626,911.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Robert Woerner sold 13,956 shares of the stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $258.76, for a total transaction of $3,611,254.56. Following the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $14,960,985.68. The disclosure for this sale can be found here. Insiders sold a total of 16,486 shares of company stock valued at $4,268,471 in the last three months. 1.10% of the stock is currently owned by corporate insiders.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Sunday, April 25th. The financial services provider reported $5.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.73 by $0.70. Ameriprise Financial had a negative net margin of 0.53% and a positive return on equity of 34.89%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the company posted $5.41 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Ameriprise Financial, Inc. will post 21.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Monday, May 10th were given a $1.13 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.04. This represents a $4.52 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Friday, May 7th. Ameriprise Financial’s dividend payout ratio is currently 32.10%.
Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Ameriprise Financial from $270.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Barclays upped their price objective on Ameriprise Financial from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, April 12th. Citigroup raised their target price on Ameriprise Financial from $245.00 to $265.00 in a report on Wednesday, March 31st. Morgan Stanley upped their price target on shares of Ameriprise Financial from $236.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 19th. Finally, Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price objective for the company. in a research note on Wednesday, March 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $238.44.
Ameriprise Financial Profile
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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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