Weiss Asset Management LP Purchases Shares of 11,375 Ameriprise Financial, Inc. (NYSE:AMP)

Weiss Asset Management LP bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,375 shares of the financial services provider’s stock, valued at approximately $2,866,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Ameriprise Financial by 3.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 123,272 shares of the financial services provider’s stock worth $31,059,000 after acquiring an additional 3,688 shares during the period. Greenleaf Trust boosted its stake in shares of Ameriprise Financial by 38.1% during the 3rd quarter. Greenleaf Trust now owns 4,551 shares of the financial services provider’s stock worth $1,147,000 after acquiring an additional 1,255 shares during the period. Fifth Third Bancorp boosted its stake in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Fifth Third Bancorp now owns 5,776 shares of the financial services provider’s stock worth $1,456,000 after acquiring an additional 181 shares during the period. Moloney Securities Asset Management LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $209,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Ameriprise Financial by 5.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 41,093 shares of the financial services provider’s stock worth $9,766,000 after acquiring an additional 1,943 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Credit Suisse Group lifted their price target on Ameriprise Financial from $382.00 to $401.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. UBS Group lifted their price target on Ameriprise Financial from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Finally, Argus lifted their price target on Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $347.18.

Insider Activity

In other news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares in the company, valued at approximately $271,801.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares in the company, valued at approximately $271,801.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Heather J. Melloh sold 769 shares of Ameriprise Financial stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $352.87, for a total value of $271,357.03. Following the completion of the transaction, the executive vice president now owns 3,033 shares in the company, valued at approximately $1,070,254.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,738 shares of company stock worth $26,606,004. Insiders own 1.00% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $281.43 on Friday. The stock has a market capitalization of $29.95 billion, a PE ratio of 12.54, a P/E/G ratio of 0.51 and a beta of 1.49. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.69 and a quick ratio of 0.69. The business has a fifty day moving average price of $335.26 and a two-hundred day moving average price of $310.37. Ameriprise Financial, Inc. has a fifty-two week low of $219.99 and a fifty-two week high of $357.46.

Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company posted $6.15 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 30.69 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. Ameriprise Financial’s payout ratio is 22.27%.

About Ameriprise Financial

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.