Ameriprise Financial, Inc. (AMP) Position Boosted by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 132.6% during the first quarter, Holdings Channel reports. The institutional investor owned 341,246 shares of the financial services provider’s stock after buying an additional 194,551 shares during the period. Nationwide Fund Advisors owned 0.22% of Ameriprise Financial worth $44,253,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Ameriprise Financial during the first quarter worth $125,000. Virtus Investment Advisers Inc. purchased a new stake in Ameriprise Financial during the third quarter worth $133,000. SRB Corp boosted its stake in Ameriprise Financial by 10.7% in the third quarter. SRB Corp now owns 1,606 shares of the financial services provider’s stock worth $160,000 after buying an additional 155 shares in the last quarter. First Bank & Trust purchased a new stake in Ameriprise Financial during the fourth quarter worth $201,000. Finally, Armstrong Shaw Associates Inc. CT purchased a new stake in Ameriprise Financial during the third quarter worth $202,000. Institutional investors and hedge funds own 78.42% of the company’s stock.
Ameriprise Financial, Inc. (NYSE:AMP) traded down 0.87% during trading on Friday, reaching $128.44. 937,180 shares of the company’s stock were exchanged. Ameriprise Financial, Inc. has a 52 week low of $84.92 and a 52 week high of $135.20. The stock has a 50-day moving average of $129.52 and a 200-day moving average of $115.90. The stock has a market capitalization of $19.79 billion, a PE ratio of 16.45 and a beta of 1.77.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, February 1st. The financial services provider reported $2.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.30. The firm earned $3.10 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Ameriprise Financial had a return on equity of 23.18% and a net margin of 11.23%. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post $10.69 EPS for the current year.
AMP has been the subject of several research analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and issued a $140.00 price objective (up from $137.00) on shares of Ameriprise Financial in a research report on Thursday. William Blair initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 2nd. They issued an “outperform” rating and a $138.80 price objective for the company. Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. Citigroup Inc reaffirmed a “buy” rating on shares of Ameriprise Financial in a research report on Monday, April 3rd. Finally, Credit Suisse Group AG raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $152.00 in a research report on Monday, January 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Ameriprise Financial currently has an average rating of “Buy” and a consensus target price of $128.28.
In other Ameriprise Financial news, VP Kelli A. Hunter sold 6,464 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $122.53, for a total value of $792,033.92. Following the completion of the transaction, the vice president now owns 32,385 shares in the company, valued at $3,968,134.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 5,889 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $122.82, for a total value of $723,286.98. Following the completion of the transaction, the insider now owns 19,045 shares of the company’s stock, valued at approximately $2,339,106.90. The disclosure for this sale can be found here. Insiders sold 49,285 shares of company stock valued at $6,157,616 in the last quarter. 1.40% of the stock is currently owned by company insiders.
About Ameriprise Financial
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.