Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,515 shares of the financial services provider’s stock after purchasing an additional 888 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameriprise Financial were worth $14,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flputnam Investment Management Co. increased its stake in Ameriprise Financial by 0.9% during the fourth quarter. Flputnam Investment Management Co. now owns 6,228 shares of the financial services provider’s stock worth $2,366,000 after acquiring an additional 57 shares during the last quarter. Keel Point LLC increased its stake in Ameriprise Financial by 10.4% during the fourth quarter. Keel Point LLC now owns 1,143 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 108 shares during the last quarter. Mackenzie Financial Corp increased its stake in Ameriprise Financial by 0.6% during the fourth quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock worth $3,842,000 after acquiring an additional 62 shares during the last quarter. TNF LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth $223,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Ameriprise Financial during the fourth quarter worth $2,317,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AMP. Royal Bank of Canada raised their price target on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. UBS Group lifted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $441.00.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,161 shares of company stock worth $35,560,647. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.2 %

Ameriprise Financial stock opened at $412.63 on Friday. The stock’s fifty day moving average is $416.48 and its two-hundred day moving average is $377.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The stock has a market cap of $41.34 billion, a PE ratio of 17.40, a P/E/G ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the firm earned $6.94 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.78%.

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.