E Fund Management Co. Ltd. Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

E Fund Management Co. Ltd. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the first quarter, HoldingsChannel.com reports. The fund acquired 205 shares of the financial services provider’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Ameriprise Financial by 15.0% during the 4th quarter. Barclays PLC now owns 192,627 shares of the financial services provider’s stock worth $37,434,000 after purchasing an additional 25,144 shares during the last quarter. Aviva PLC lifted its holdings in Ameriprise Financial by 4.1% during the 4th quarter. Aviva PLC now owns 40,407 shares of the financial services provider’s stock worth $7,852,000 after purchasing an additional 1,594 shares during the last quarter. Boston Partners lifted its holdings in Ameriprise Financial by 0.3% during the 4th quarter. Boston Partners now owns 1,932,622 shares of the financial services provider’s stock worth $375,566,000 after purchasing an additional 5,102 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Ameriprise Financial by 98.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 7,144 shares of the financial services provider’s stock worth $1,388,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Reby Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $53,000. 81.47% of the stock is owned by institutional investors.

In related news, EVP Gerard P. Smyth sold 970 shares of the business’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $259.64, for a total transaction of $251,850.80. Following the sale, the executive vice president now owns 13,969 shares in the company, valued at approximately $3,626,911.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Karen Wilson Thissen sold 1,560 shares of the business’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $259.85, for a total value of $405,366.00. Following the sale, the vice president now owns 11,657 shares in the company, valued at approximately $3,029,071.45. The disclosure for this sale can be found here. Insiders have sold a total of 16,486 shares of company stock worth $4,268,471 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on AMP shares. Morgan Stanley lifted their price target on Ameriprise Financial from $236.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 19th. Citigroup lifted their price objective on Ameriprise Financial from $245.00 to $265.00 in a report on Wednesday, March 31st. Barclays lifted their price objective on Ameriprise Financial from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, April 12th. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 price objective for the company. in a report on Wednesday, March 31st. Finally, Royal Bank of Canada lifted their price objective on Ameriprise Financial from $270.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $238.44.

Shares of AMP opened at $257.32 on Friday. Ameriprise Financial, Inc. has a 52-week low of $138.70 and a 52-week high of $269.29. The firm has a fifty day simple moving average of $253.44. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $29.82 billion, a price-to-earnings ratio of -584.80 and a beta of 1.70.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Sunday, April 25th. The financial services provider reported $5.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.73 by $0.70. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.23 billion. Ameriprise Financial had a positive return on equity of 34.89% and a negative net margin of 0.53%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $5.41 EPS. On average, equities analysts expect that Ameriprise Financial, Inc. will post 21.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Monday, May 10th were given a dividend of $1.13 per share. The ex-dividend date was Friday, May 7th. This represents a $4.52 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. Ameriprise Financial’s payout ratio is currently 32.10%.

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.

Featured Article: Futures Contract

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.