Catalina Capital Group LLC Purchases 52 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Catalina Capital Group LLC lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 705 shares of the financial services provider’s stock after purchasing an additional 52 shares during the period. Catalina Capital Group LLC’s holdings in Ameriprise Financial were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the period. Norges Bank bought a new position in Ameriprise Financial during the fourth quarter worth about $514,539,000. Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares in the last quarter. TD Asset Management Inc boosted its holdings in Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after purchasing an additional 111,973 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $5.98 during midday trading on Friday, hitting $439.68. 240,690 shares of the company traded hands, compared to its average volume of 485,574. The firm’s fifty day moving average price is $426.90 and its 200-day moving average price is $422.45. The stock has a market cap of $43.67 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $7.44 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Argus upped their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, UBS Group reduced their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $464.33.

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.