Pictet Asset Management Ltd. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 73,544 shares of the financial services provider’s stock after acquiring an additional 2,800 shares during the period. Pictet Asset Management Ltd.’s holdings in Ameriprise Financial were worth $10,818,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $25,000. KCS Wealth Advisory acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $26,000. Tortoise Investment Management LLC lifted its position in shares of Ameriprise Financial by 416.7% in the second quarter. Tortoise Investment Management LLC now owns 186 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $28,000. Finally, Advantage Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $29,000. 80.42% of the stock is owned by institutional investors.
Shares of AMP opened at $162.56 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $165.78. The business’s fifty day moving average is $153.97 and its 200-day moving average is $144.83. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 10.88 and a beta of 1.87.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $4.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $0.15. Ameriprise Financial had a return on equity of 37.50% and a net margin of 15.31%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the company posted $3.74 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 16.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.88 annualized dividend and a dividend yield of 2.39%. Ameriprise Financial’s payout ratio is 25.97%.
In related news, VP Karen Wilson Thissen sold 303 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $158.67, for a total transaction of $48,077.01. Following the sale, the vice president now owns 14,599 shares of the company’s stock, valued at approximately $2,316,423.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Robert Woerner sold 6,477 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $154.13, for a total value of $998,300.01. Following the sale, the insider now directly owns 27,196 shares in the company, valued at approximately $4,191,719.48. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
A number of research firms have recently issued reports on AMP. ValuEngine raised Ameriprise Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, November 25th. Morgan Stanley cut their price objective on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. Zacks Investment Research cut Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 16th. Finally, Citigroup lowered their target price on Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Ameriprise Financial has a consensus rating of “Buy” and an average target price of $173.00.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
Featured Story: What is Considered a Good Return on Equity (ROE)?
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.