West Bancorporation Inc. bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 600 shares of the financial services provider’s stock, valued at approximately $100,000.
A number of other hedge funds have also recently added to or reduced their stakes in AMP. Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $200,000. Bank of Montreal Can raised its holdings in shares of Ameriprise Financial by 9.0% during the fourth quarter. Bank of Montreal Can now owns 1,028,464 shares of the financial services provider’s stock valued at $171,321,000 after purchasing an additional 85,255 shares during the period. Dividend Assets Capital LLC raised its holdings in shares of Ameriprise Financial by 3.1% during the fourth quarter. Dividend Assets Capital LLC now owns 35,964 shares of the financial services provider’s stock valued at $5,991,000 after purchasing an additional 1,090 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of Ameriprise Financial by 6.0% during the fourth quarter. Rafferty Asset Management LLC now owns 20,950 shares of the financial services provider’s stock valued at $3,490,000 after purchasing an additional 1,189 shares during the period. Finally, Blue Sky Asset Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $483,000. Institutional investors and hedge funds own 79.66% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Ameriprise Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Argus restated a “buy” rating and issued a $190.00 target price on shares of Ameriprise Financial in a report on Tuesday, February 4th. Cfra upped their target price on shares of Ameriprise Financial from $165.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lowered shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 target price on the stock. in a report on Tuesday, January 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $181.90.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.25 by ($0.05). Ameriprise Financial had a return on equity of 37.39% and a net margin of 14.60%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $3.80 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 18.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, February 13th. Ameriprise Financial’s payout ratio is 24.10%.
In other news, VP Karen Wilson Thissen sold 530 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $175.72, for a total transaction of $93,131.60. Following the completion of the transaction, the vice president now directly owns 13,194 shares of the company’s stock, valued at approximately $2,318,449.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 52,160 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $177.43, for a total transaction of $9,254,748.80. Following the transaction, the chief financial officer now directly owns 69,433 shares of the company’s stock, valued at $12,319,497.19. The disclosure for this sale can be found here. Insiders sold a total of 67,905 shares of company stock valued at $11,952,744 over the last ninety days. 1.90% of the stock is currently owned by insiders.
Ameriprise Financial Company 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.
Featured Story: Understanding Market Liquidity
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.