Van ECK Associates Corp Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Van ECK Associates Corp raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,100 shares of the financial services provider’s stock after purchasing an additional 385 shares during the period. Van ECK Associates Corp’s holdings in Ameriprise Financial were worth $6,495,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMP. OFI Invest Asset Management purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth $25,000. Carmel Capital Partners LLC acquired a new stake in Ameriprise Financial in the 3rd quarter worth about $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter worth about $34,000. Wetzel Investment Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $34,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $39,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.9 %

Shares of NYSE:AMP opened at $418.95 on Friday. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $41.97 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The firm has a fifty day moving average of $420.18 and a two-hundred day moving average of $383.81.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.25 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 13,346 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. In the last three months, insiders sold 74,326 shares of company stock valued at $29,775,593. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $449.57.

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.