Fifth Third Bancorp Has $2.48 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Bancorp increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,527 shares of the financial services provider’s stock after purchasing an additional 308 shares during the quarter. Fifth Third Bancorp’s holdings in Ameriprise Financial were worth $2,479,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. increased its position in shares of Ameriprise Financial by 4.1% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,144 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 45 shares in the last quarter. Quent Capital LLC increased its position in Ameriprise Financial by 2.3% in the 4th quarter. Quent Capital LLC now owns 1,767 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 40 shares in the last quarter. Washington Capital Management Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $223,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Ameriprise Financial by 329.9% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,509 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its position in Ameriprise Financial by 5.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 6,402 shares of the financial services provider’s stock valued at $2,432,000 after acquiring an additional 346 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMP. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Raymond James initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. Evercore ISI cut shares of Ameriprise Financial from an “outperform” rating to an “in-line” rating and lifted their price target for the stock from $385.00 to $400.00 in a research report on Thursday, January 4th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $394.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $428.83.

Read Our Latest Research Report on AMP

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a filing with the SEC, which is available through this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s 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 transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at $4,832,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $436.22 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.64. The company has a market capitalization of $43.70 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36. The firm’s 50 day moving average is $408.74 and its 200-day moving average is $370.24.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the company earned $6.94 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.2 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a $1.35 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

About Ameriprise Financial

(Free Report)

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.

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

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