Ameriprise Financial, Inc. (AMP) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,923 shares of the financial services provider’s stock after acquiring an additional 4,483 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of Ameriprise Financial worth $32,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. FMR LLC increased its stake in shares of Ameriprise Financial by 65.9% during the 2nd quarter. FMR LLC now owns 2,079,355 shares of the financial services provider’s stock valued at $290,861,000 after acquiring an additional 825,832 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ameriprise Financial by 3.8% during the 2nd quarter. BlackRock Inc. now owns 10,832,182 shares of the financial services provider’s stock valued at $1,515,207,000 after acquiring an additional 392,679 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,095,187 shares of the financial services provider’s stock valued at $432,954,000 after acquiring an additional 382,319 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ameriprise Financial by 26.9% during the 2nd quarter. American Century Companies Inc. now owns 1,796,655 shares of the financial services provider’s stock valued at $251,316,000 after acquiring an additional 380,361 shares during the last quarter. Finally, Natixis increased its stake in shares of Ameriprise Financial by 227.2% during the 2nd quarter. Natixis now owns 445,022 shares of the financial services provider’s stock valued at $62,250,000 after acquiring an additional 309,025 shares during the last quarter. 81.70% of the stock is owned by institutional investors.

AMP has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, July 9th. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Thursday, July 12th. ValuEngine downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $175.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Finally, Sandler O’Neill set a $158.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $161.25.

AMP opened at $126.45 on Friday. The company has a market cap of $17.94 billion, a P/E ratio of 10.31 and a beta of 1.79. Ameriprise Financial, Inc. has a 1 year low of $120.79 and a 1 year high of $183.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.66 and a quick ratio of 0.69.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.37. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.20 billion. Ameriprise Financial had a net margin of 13.58% and a return on equity of 37.21%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.12 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 15.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Monday, November 5th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, November 2nd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 29.34%.

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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

Read More: Ex-Dividend

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

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