AGF Investments Inc. Purchases 65,982 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

AGF Investments Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 455,042 shares of the financial services provider’s stock after acquiring an additional 65,982 shares during the period. Ameriprise Financial accounts for about 0.9% of AGF Investments Inc.’s investment portfolio, making the stock its 25th biggest holding. AGF Investments Inc.’s holdings in Ameriprise Financial were worth $120,186,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC bought a new stake in Ameriprise Financial in the second quarter worth $31,000. Norway Savings Bank boosted its holdings in Ameriprise Financial by 270.3% in the third quarter. Norway Savings Bank now owns 137 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. West Branch Capital LLC bought a new stake in Ameriprise Financial in the second quarter worth $38,000. Koshinski Asset Management Inc. bought a new stake in Ameriprise Financial in the third quarter worth $48,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Ameriprise Financial in the third quarter worth $60,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial stock traded down $1.75 during mid-day trading on Friday, reaching $325.57. 11,696 shares of the stock traded hands, compared to its average volume of 519,715. The stock has a market capitalization of $36.43 billion, a PE ratio of 17.65 and a beta of 1.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. Ameriprise Financial, Inc. has a 12-month low of $196.77 and a 12-month high of $332.37. The business’s 50-day moving average is $303.27 and its 200-day moving average is $280.75.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Monday, October 25th. The financial services provider reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.42. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Ameriprise Financial had a return on equity of 45.09% and a net margin of 17.39%. Ameriprise Financial’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.27 earnings per share. Equities analysts anticipate that Ameriprise Financial, Inc. will post 22.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Investors of record on Monday, November 8th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, November 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 24.38%.

Several equities research analysts have commented on the company. Credit Suisse Group boosted their target price on Ameriprise Financial from $317.00 to $348.00 and gave the stock an “outperform” rating in a report on Tuesday, November 2nd. They noted that the move was a valuation call. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $350.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 4th. UBS Group boosted their price target on Ameriprise Financial from $355.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, January 4th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. Finally, Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $312.00 price target for the company in a research note on Friday, December 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $328.33.

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 30,632 shares of the company’s stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $303.67, for a total value of $9,302,019.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Karen Wilson Thissen sold 1,500 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $308.03, for a total value of $462,045.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,776 shares of company stock valued at $22,149,231. 1.10% of the stock is owned by company insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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

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