Mediolanum International Funds Ltd Has $14.67 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mediolanum International Funds Ltd grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 11.6% in the third quarter, HoldingsChannel.com reports. The fund owned 31,352 shares of the financial services provider’s stock after acquiring an additional 3,268 shares during the period. Mediolanum International Funds Ltd’s holdings in Ameriprise Financial were worth $14,668,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMP. Retirement Group LLC bought a new stake in Ameriprise Financial in the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. increased its position in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth $28,000. Finally, Mascoma Wealth Management LLC lifted its holdings in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.0 %

AMP stock traded up $0.03 during midday trading on Friday, hitting $504.24. The company’s stock had a trading volume of 98,300 shares, compared to its average volume of 469,684. The company’s fifty day moving average price is $464.19 and its 200 day moving average price is $439.06. 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 twelve month low of $307.57 and a twelve month high of $524.89. The stock has a market capitalization of $50.08 billion, a P/E ratio of 17.12, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.44 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMP. Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial 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.