IFP Advisors Inc Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

IFP Advisors Inc raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 630 shares of the financial services provider’s stock after purchasing an additional 45 shares during the quarter. IFP Advisors Inc’s holdings in Ameriprise Financial were worth $166,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AlphaCrest Capital Management LLC boosted its holdings in Ameriprise Financial by 165.4% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 9,057 shares of the financial services provider’s stock valued at $2,254,000 after purchasing an additional 5,645 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Ameriprise Financial by 18.4% in the 2nd quarter. Lazard Asset Management LLC now owns 13,003 shares of the financial services provider’s stock valued at $3,236,000 after purchasing an additional 2,025 shares during the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Ameriprise Financial by 6.2% in the 2nd quarter. Asset Advisors Investment Management LLC now owns 19,130 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 1,115 shares during the last quarter. Millennium Management LLC boosted its holdings in Ameriprise Financial by 18.9% in the 2nd quarter. Millennium Management LLC now owns 235,348 shares of the financial services provider’s stock valued at $58,573,000 after purchasing an additional 37,409 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. National Pension Service now owns 176,711 shares of the financial services provider’s stock worth $43,980,000 after acquiring an additional 1,658 shares during the last quarter. Institutional investors own 81.97% of the company’s stock.

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

Shares of AMP opened at $302.46 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $182.83 and a fifty-two week high of $312.14. The firm’s 50 day moving average price is $288.91 and its 200 day moving average price is $268.83. The company has a market cap of $33.84 billion, a P/E ratio of 16.31 and a beta of 1.65. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were given 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 of this dividend was Friday, November 5th. Ameriprise Financial’s dividend payout ratio is presently 24.38%.

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

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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