Ameriprise Financial, Inc. $AMP Shares Purchased by Journey Advisory Group LLC

Journey Advisory Group LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the second quarter, Holdings Channel reports. The firm owned 12,941 shares of the financial services provider’s stock after buying an additional 210 shares during the quarter. Journey Advisory Group LLC’s holdings in Ameriprise Financial were worth $6,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $29,000. TD Capital Management LLC raised its position in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Salomon & Ludwin LLC raised its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the last quarter. WPG Advisers LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $33,000. Finally, Hager Investment Management Services LLC raised its position in Ameriprise Financial by 114.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMP shares. Morgan Stanley cut their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. 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 research note on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $539.50.

Insider Activity at Ameriprise Financial

In other 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 transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction 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 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 sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $470.03 on Monday. The company’s 50 day simple moving average is $497.70 and its 200 day simple moving average is $501.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The stock has a market capitalization of $44.31 billion, a PE ratio of 14.62, a P/E/G ratio of 1.05 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $8.72 earnings per share. Ameriprise Financial’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

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.