State of Alaska Department of Revenue Buys 600 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

State of Alaska Department of Revenue boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,369 shares of the financial services provider’s stock after purchasing an additional 600 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ameriprise Financial were worth $24,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMP. Ledyard National Bank boosted its position in shares of Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 23 shares during the period. Heartland Bank & Trust Co boosted its holdings in Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 24 shares during the period. Portside Wealth Group LLC grew its position in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 25 shares in the last quarter. Signaturefd LLC grew its position in shares of Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 26 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Ameriprise Financial by 0.7% in the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of NYSE AMP opened at $504.48 on Friday. The stock has a market capitalization of $50.11 billion, a P/E ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $307.57 and a one year high of $524.89. The firm’s 50 day simple moving average is $467.23 and its two-hundred day simple moving average is $440.06. 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 (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $7.44 EPS. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several research analyst reports. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $482.11.

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.