Royal Bank of Canada Purchases 20,970 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Royal Bank of Canada grew its position in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 894,744 shares of the financial services provider’s stock after purchasing an additional 20,970 shares during the period. Royal Bank of Canada owned approximately 0.88% of Ameriprise Financial worth $294,979,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMP. OFI Invest Asset Management bought a new stake in Ameriprise Financial during the third quarter worth about $25,000. Financial Freedom LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $27,000. Carmel Capital Partners LLC bought a new stake in Ameriprise Financial in the third quarter valued at approximately $30,000. FinTrust Capital Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. raised its stake in Ameriprise Financial by 106.6% in the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after buying an additional 65 shares during the period. 82.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 9,948 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $365.86, for a total value of $3,639,575.28. Following the sale, the chief executive officer now owns 157,103 shares of the company’s stock, valued at approximately $57,477,703.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 9,948 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $365.86, for a total value of $3,639,575.28. Following the sale, the chief executive officer now owns 157,103 shares of the company’s stock, valued at approximately $57,477,703.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,642 shares of company stock valued at $40,757,574. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AMP. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. StockNews.com lowered Ameriprise Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Royal Bank of Canada upped their target price on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Morgan Stanley upped their target price on Ameriprise Financial from $394.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $422.83.

View Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Trading Down 0.6 %

Shares of NYSE:AMP opened at $412.78 on Friday. The company has a market capitalization of $41.40 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.77 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $275.09 and a 1 year high of $419.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day simple moving average is $391.67 and its 200 day simple moving average is $358.98.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 earnings per share. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

About Ameriprise Financial

(Free Report)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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