Scotia Capital Inc. Invests $248,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Scotia Capital Inc. purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) in the fourth quarter, Holdings Channel reports. The firm purchased 796 shares of the financial services provider’s stock, valued at approximately $248,000.

Other hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. raised its stake in shares of Ameriprise Financial by 145.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 81 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 48 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth about $31,000. Bell Investment Advisors Inc grew its position in shares of Ameriprise Financial by 47.8% during the 4th quarter. Bell Investment Advisors Inc now owns 102 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 33 shares during the period. Trifecta Capital Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $33,000. Finally, Guardian Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $35,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMP shares. Royal Bank of Canada reduced their price objective on Ameriprise Financial from $400.00 to $385.00 in a report on Thursday, April 27th. Morgan Stanley decreased their price objective on Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Argus upped their price objective on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. Credit Suisse Group lifted their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Finally, StockNews.com initiated coverage on shares of Ameriprise Financial in a report on Thursday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $349.70.

Ameriprise Financial Trading Up 0.1 %

Ameriprise Financial stock opened at $303.87 on Monday. The stock has a market cap of $31.66 billion, a P/E ratio of 15.43, a PEG ratio of 0.63 and a beta of 1.46. Ameriprise Financial, Inc. has a fifty-two week low of $219.99 and a fifty-two week high of $357.46. The firm’s fifty day moving average price is $298.95 and its 200-day moving average price is $318.91. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its earnings results on Tuesday, April 25th. The financial services provider reported $7.25 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.04. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Ameriprise Financial had a return on equity of 77.32% and a net margin of 15.41%. During the same period in the prior year, the company earned $5.98 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 30.28 earnings per share for the current fiscal year.

Ameriprise Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 5th. This represents a $0.40 annualized dividend and a yield of 0.13%. Ameriprise Financial’s payout ratio is presently 27.43%.

Ameriprise Financial Company Profile

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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.