Bessemer Group Inc. Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

Bessemer Group Inc. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% during the first quarter, HoldingsChannel reports. The firm owned 9,748 shares of the financial services provider’s stock after purchasing an additional 199 shares during the quarter. Bessemer Group Inc.’s holdings in Ameriprise Financial were worth $4,274,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $28,000. Annapolis Financial Services LLC raised its position in shares of Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $32,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AMP. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group cut their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Royal Bank of Canada raised their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $462.89.

Ameriprise Financial Stock Up 0.6 %

Shares of Ameriprise Financial stock traded up $2.67 during trading hours on Wednesday, hitting $424.06. 995,490 shares of the company’s stock traded hands, compared to its average volume of 487,249. The stock has a 50 day simple moving average of $432.03 and a 200-day simple moving average of $417.06. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $42.12 billion, a PE ratio of 14.44, a PEG ratio of 0.66 and a beta of 1.37. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.25 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.91 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with 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.