Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,083 shares of the financial services provider’s stock after purchasing an additional 84 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ameriprise Financial were worth $2,171,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $514,539,000. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. First Trust Advisors LP boosted its position in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the period. TD Asset Management Inc raised its position in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares in the last quarter. Finally, Swedbank AB purchased a new position in Ameriprise Financial in the first quarter worth approximately $108,938,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $445.14 on Tuesday. The company’s fifty day moving average is $428.80 and its two-hundred day moving average is $427.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $44.21 billion, a P/E ratio of 15.15, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $450.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS 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 firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $7.44 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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 of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.33%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMP. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, UBS Group reduced their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $464.33.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

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.