DRW Securities LLC Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

DRW Securities LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 939.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,946 shares of the financial services provider’s stock after purchasing an additional 4,470 shares during the period. DRW Securities LLC’s holdings in Ameriprise Financial were worth $2,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the period. First Trust Advisors LP lifted its stake in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc grew its holdings in Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares in the last quarter. Swedbank AB purchased a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $108,938,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Ameriprise Financial by 104.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada boosted 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. Jefferies Financial Group increased their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. UBS Group cut their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods cut 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 report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Insider Activity

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 completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

AMP stock opened at $460.61 on Friday. The company has a market cap of $45.75 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a fifty day moving average price of $430.15 and a 200 day moving average price of $428.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $465.82.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm earned $7.44 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.