Ameriprise Financial, Inc. $AMP Stock Position Raised by Mather Group LLC.

Mather Group LLC. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1,153.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,905 shares of the financial services provider’s stock after buying an additional 16,477 shares during the quarter. Mather Group LLC.’s holdings in Ameriprise Financial were worth $8,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Ameriprise Financial by 1,279.7% in the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock valued at $29,069,493,000 after buying an additional 58,772,775 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Ameriprise Financial by 960.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after buying an additional 3,036,128 shares during the period. Artemis Investment Management LLP purchased a new position in Ameriprise Financial during the 3rd quarter worth $925,211,000. Douglas Lane & Associates LLC purchased a new position in Ameriprise Financial during the 3rd quarter worth $575,767,000. Finally, Dimensional Fund Advisors LP raised its position in Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock worth $455,387,000 after buying an additional 19,731 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn Brockman sold 472 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Up 0.6%

AMP opened at $496.19 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $535.87 and a 200-day simple moving average of $496.87. The stock has a market capitalization of $44.61 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.01 and a beta of 1.16. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the business earned $9.11 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has authorized a stock repurchase program on Tuesday, September 29th that authorizes the company to buy back $5.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent analyst reports. BMO Capital Markets reduced their target price on shares of Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. The Goldman Sachs Group lowered their target price on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Argus boosted their price target on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Raymond James Financial increased their price target on shares of Ameriprise Financial from $582.00 to $638.00 and gave the stock a “strong-buy” rating in a report on Friday, August 21st. Finally, Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Moderate Buy” and a consensus price target of $572.55.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.