New Century Financial Group LLC Buys 80 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New Century Financial Group LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,525 shares of the financial services provider’s stock after acquiring an additional 80 shares during the quarter. New Century Financial Group LLC’s holdings in Ameriprise Financial were worth $716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Wellington Management Group LLP increased its stake in Ameriprise Financial by 11.4% in the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after buying an additional 630 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Ameriprise Financial by 10.6% during the first quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 67 shares during the period. Gulf International Bank UK Ltd boosted its position in Ameriprise Financial by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 8,600 shares of the financial services provider’s stock worth $3,770,000 after purchasing an additional 54 shares during the last quarter. Ballentine Partners LLC grew its stake in Ameriprise Financial by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 1,651 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 42 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in shares of Ameriprise Financial by 4.3% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,469 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $480.44.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE AMP opened at $523.16 on Friday. The business has a 50-day simple moving average of $457.59 and a two-hundred day simple moving average of $437.23. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $524.89. The company has a market cap of $51.96 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.