Northwest Bancshares Inc. Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Northwest Bancshares Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 59.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,507 shares of the financial services provider’s stock after selling 2,203 shares during the quarter. Northwest Bancshares Inc.’s holdings in Ameriprise Financial were worth $398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. BlackRock Inc. grew its position in shares of Ameriprise Financial by 7.4% in the 2nd quarter. BlackRock Inc. now owns 9,616,938 shares of the financial services provider’s stock worth $2,393,463,000 after acquiring an additional 662,711 shares in the last quarter. FMR LLC grew its position in shares of Ameriprise Financial by 30.5% in the 2nd quarter. FMR LLC now owns 1,515,762 shares of the financial services provider’s stock worth $377,243,000 after acquiring an additional 354,421 shares in the last quarter. Amundi acquired a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $82,602,000. AGF Investments Inc. grew its position in shares of Ameriprise Financial by 154.9% in the 2nd quarter. AGF Investments Inc. now owns 389,060 shares of the financial services provider’s stock worth $96,829,000 after acquiring an additional 236,402 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Ameriprise Financial by 186.4% in the 2nd quarter. Macquarie Group Ltd. now owns 295,944 shares of the financial services provider’s stock worth $73,655,000 after acquiring an additional 192,615 shares in the last quarter. Institutional investors own 81.97% of the company’s stock.

Shares of AMP stock opened at $302.46 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. Ameriprise Financial, Inc. has a 1 year low of $182.83 and a 1 year high of $312.14. The stock has a fifty day moving average of $288.91 and a two-hundred day moving average of $268.83. The firm has a market capitalization of $33.84 billion, a PE ratio of 16.31 and a beta of 1.65.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Monday, October 25th. The financial services provider reported $5.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.42. Ameriprise Financial had a return on equity of 45.09% and a net margin of 17.39%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the firm posted $4.27 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 22.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Monday, November 8th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, November 5th. Ameriprise Financial’s dividend payout ratio is presently 24.38%.

In other news, CEO James M. Cracchiolo sold 30,632 shares of the business’s stock in a transaction on Friday, October 29th. The stock was sold at an average price of $303.67, for a total transaction of $9,302,019.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Karen Wilson Thissen sold 1,500 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $308.03, for a total value of $462,045.00. The disclosure for this sale can be found here. Insiders sold a total of 48,118 shares of company stock worth $14,597,751 in the last three months. Company insiders own 1.10% of the company’s stock.

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Ameriprise Financial from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Thursday, November 18th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Credit Suisse Group boosted their price objective on Ameriprise Financial from $317.00 to $348.00 and gave the company an “outperform” rating in a research report on Tuesday, November 2nd. They noted that the move was a valuation call. Finally, Wolfe Research assumed coverage on Ameriprise Financial in a research report on Tuesday, October 12th. They set an “outperform” rating and a $328.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $292.10.

Ameriprise Financial Profile

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.

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

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