Alpha Family Trust Acquires Shares of 470 Ameriprise Financial, Inc. (NYSE:AMP)

Alpha Family Trust bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 470 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of AMP. Retirement Group LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter valued at approximately $28,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial during the 1st quarter worth approximately $32,000. Annapolis Financial Services LLC increased its holdings in shares of Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock traded down $3.57 during trading on Thursday, hitting $417.99. The company had a trading volume of 711,132 shares, compared to its average volume of 482,831. The business has a 50 day moving average of $433.01 and a 200 day moving average of $415.77. The firm has a market capitalization of $41.51 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.68 and a beta of 1.37. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the business posted $7.25 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.91 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.42%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMP. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Raymond James began coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. UBS Group lowered their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI raised their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $462.89.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.