Ameriprise Financial, Inc. $AMP is Edmp Inc.’s 8th Largest Position

Edmp Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,007 shares of the financial services provider’s stock after selling 204 shares during the quarter. Ameriprise Financial comprises approximately 3.6% of Edmp Inc.’s holdings, making the stock its 8th largest position. Edmp Inc.’s holdings in Ameriprise Financial were worth $4,273,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Vermont grew its holdings in Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 19 shares in the last quarter. Plancorp LLC boosted its position in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 20 shares during the last quarter. Old Port Advisors lifted its position in Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after buying an additional 20 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after buying an additional 21 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after buying an additional 21 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.5%

Ameriprise Financial stock opened at $482.04 on Tuesday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a market capitalization of $45.44 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26. The stock has a 50-day moving average price of $499.90 and a 200 day moving average price of $501.72. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

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, beating analysts’ consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $8.72 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Morgan Stanley reduced their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $539.50.

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.