BDF Gestion Acquires Shares of 6,639 Ameriprise Financial, Inc. (NYSE:AMP)

BDF Gestion acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,639 shares of the financial services provider’s stock, valued at approximately $2,836,000.

Several other institutional investors have also bought and sold shares of AMP. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter worth about $514,539,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new stake in Ameriprise Financial during the 1st quarter valued at about $108,938,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $4.46 during trading hours on Friday, hitting $404.99. 310,129 shares of the company were exchanged, compared to its average volume of 490,334. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. The company’s 50 day moving average price is $427.55 and its 200-day moving average price is $419.80.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.44 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insiders Place Their Bets

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 shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMP. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. UBS Group decreased their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $464.33.

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.