Ameriprise Financial, Inc. $AMP Shares Acquired by Sienna Gestion

Sienna Gestion increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,750 shares of the financial services provider’s stock after purchasing an additional 2,934 shares during the period. Ameriprise Financial accounts for 1.0% of Sienna Gestion’s investment portfolio, making the stock its 20th largest holding. Sienna Gestion’s holdings in Ameriprise Financial were worth $14,497,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its stake in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the period. Salomon & Ludwin LLC lifted 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 acquiring an additional 30 shares during the period. TD Capital Management LLC lifted 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 acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $29,000. Finally, WPG Advisers LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $459.16 on Thursday. The firm has a 50 day moving average of $487.04 and a 200-day moving average of $502.86. The company has a market cap of $43.29 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.02 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s payout ratio is 17.55%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday. Royal Bank Of Canada reduced their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. One investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $530.63.

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.