Ascent Wealth Partners LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,174 shares of the financial services provider’s stock after acquiring an additional 2,085 shares during the period. Ascent Wealth Partners LLC’s holdings in Ameriprise Financial were worth $2,712,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. MV Capital Management Inc. raised its position in Ameriprise Financial by 81.5% in the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 88 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Enlightenment Research LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $31,000. Farmers National Bank bought a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $31,000. Finally, Hanson McClain Inc. boosted its stake in Ameriprise Financial by 232.0% in the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.
A number of brokerages have issued reports on AMP. Citigroup set a $178.00 price objective on shares of Ameriprise Financial and gave the company a “buy” rating in a research note on Thursday, May 23rd. Ameriprise Financial raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $145.00 to $202.00 in a research note on Monday, May 13th. Credit Suisse Group raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $145.00 to $202.00 in a research note on Monday, May 13th. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada set a $147.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $171.56.
Shares of AMP stock traded up $0.59 during midday trading on Monday, hitting $145.75. 1,591,000 shares of the company were exchanged, compared to its average volume of 947,720. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 9.76 and a beta of 1.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average price of $146.45. Ameriprise Financial, Inc. has a 52 week low of $95.69 and a 52 week high of $153.91.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.61 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. Ameriprise Financial had a net margin of 14.85% and a return on equity of 37.97%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 EPS. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current fiscal year.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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