Geode Capital Management LLC Purchases Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Advisors


Geode Capital Management LLC boosted its position in Ameriprise Financial, Inc. (NYSE: AMP – Get Rating) by 0.6% in the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission (SEC). The company held 2,405,659 shares in the financial services provider after purchasing an additional 15,491 shares during the period. Geode Capital Management LLC owned approximately 2.26% of Ameriprise Financial, valued at $748 million at the time of the latest SEC filing.

A number of other institutional investors have also recently added or reduced stakes in the company. Shell Asset Management Co. acquired a new stake in his Ameriprise Financial for his $1,006,000 value in the fourth quarter. BDO Wealth Advisors LLC raised his Ameriprise Financial stock position by 1.1% during the fourth quarter. BDO Wealth Advisors LLC now owns 10,073 shares of the financial services provider worth $3,136,000 after acquiring an additional 110 of his shares during the previous quarter. Massachusetts Financial Services MA increased his position in Ameriprise Financial stock by 3.1% during the third quarter. Massachusetts Financial Services, Inc. MA now owns 123,272 shares in the financial services provider, valued at $31,059,000, after acquiring an additional 3,688 shares in him last quarter. The Greenleaf Trust increased its Ameriprise Financial stock position by 38.1% during the third quarter. The Greenleaf Trust now owns 4,551 shares of the financial services provider, valued at $1,147,000, after acquiring an additional 1,255 shares during the previous quarter. Finally, US Capital Wealth Advisors LLC acquired a new stake in Ameriprise Financial for a value of $31,000 during the fourth quarter. Currently, 81.66% of the shares are held by institutional investors and hedge funds.

Ameriprise Financial Stock rose 1.8%

NYSE AMP stock rose $5.57 to $309.30 in Friday noon trading. The company traded 54,224 shares, with an average turnover of 609,316 shares. Ameriprise Financial shares hit a 12-month low of $219.99 and a 12-month high of $357.46. The company has a debt to equity ratio of 1.43, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $32.22 billion, a P/E ratio of 15.43 times, a price/earnings multiple of 0.62 times, and a beta of 1.46 times. The stock has a 50-day moving average of $301.20 and a 200-day moving average of $317.92.

Ameriprise Financial (NYSE:AMP – Get Rating) last reported quarterly results on Tuesday, April 25th. The financial services provider reported earnings per share of $7.25 for the quarter, beating analyst consensus expectations of $7.21 by $0.04. Ameriprise Financial posted a net profit margin of 15.41% and a return on equity of 77.32%. The business generated $3.74 billion in revenue for the quarter, compared with consensus expectations of $3.69 billion. Earnings per share for the business in the same period last year were $5.98. Ameriprise Financial’s revenue for the quarter increased 3.2% compared to the same period last year. Equity analysts expect the group as a whole to post earnings per share of $30.42 for Ameriprise Financial for the current fiscal year.

Ameriprise Financial Dividend Reduction

The company also recently announced a quarterly dividend, which was paid out on Friday, May 19. Shareholders of record on Monday, May 8, were given a dividend of $0.10 per share. This equates to an annualized dividend of $0.40 and a yield of 0.13%. The ex-dividend date for this dividend was Friday, May 5. Ameriprise Financial’s dividend payout ratio is 27.43%.

Wall Street analyst speaks out

AMP has been the subject of many recent research reports. Royal Bank of Canada lowered its price target on Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday, April 27. StockNews.com downgraded Ameriprise Financial from ‘hold’ to ‘sell’ in a report on Thursday. Finally, Morgan Stanley lowered its price target on Ameriprise Financial from $360.00 to $338.00 and set the company’s rating to ‘equal weight’ in its report on Wednesday, April 12. Two equity research analysts rate the company’s shares as a “sell”, three as a “hold”, and five as a “buy”. The company currently has a consensus rating of “Hold” and a consensus price target of $349.70, according to MarketBeat.

Ameriprise Financial Overview

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Ameriprise Financial, Inc. operates as a holding company. The company provides financial planning, wealth management and insurance services to individuals, businesses and institutions. The Company operates through Advice and Wealth Management, Wealth Management, Retirement and Protection Solutions, Corporate and Other business segments.

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Quarterly institutional ownership of Ameriprise Financial (NYSE:AMP)

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