Fairvoy Private Wealth LLC Boosts Stake in Ameriprise Financial, Inc. $AMP

Fairvoy Private Wealth LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,935 shares of the financial services provider’s stock after buying an additional 158 shares during the quarter. Ameriprise Financial comprises approximately 1.1% of Fairvoy Private Wealth LLC’s portfolio, making the stock its 27th biggest holding. Fairvoy Private Wealth LLC’s holdings in Ameriprise Financial were worth $4,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $29,000. TD Capital Management LLC lifted its stake in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $33,000. Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $36,000. Finally, TCTC Holdings LLC lifted its stake in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 0.2%

Shares of NYSE AMP opened at $491.67 on Friday. The company has a 50 day simple moving average of $502.93 and a 200-day simple moving average of $502.10. The company has a market capitalization of $46.35 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $8.72 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday. They issued a “market perform” rating and a $525.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a report on Saturday, September 27th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $535.14.

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.