Ellevest Inc. Acquires 127 Shares of Ameriprise Financial, Inc. $AMP

Ellevest Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,034 shares of the financial services provider’s stock after buying an additional 127 shares during the period. Ellevest Inc.’s holdings in Ameriprise Financial were worth $552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. NorthRock Partners LLC lifted its stake in Ameriprise Financial by 8.9% in the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after purchasing an additional 897 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $371,000. Advisory Alpha LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $265,000. Voya Investment Management LLC raised its position in shares of Ameriprise Financial by 4.0% during the 1st quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock valued at $53,731,000 after buying an additional 4,232 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $6,439,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday. Raymond James Financial raised 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 report on Friday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $530.63.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

AMP stock opened at $459.16 on Thursday. 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 52 week low of $396.14 and a 52 week high of $582.05. The firm’s fifty day moving average is $487.04 and its 200 day moving average is $502.86. The firm has a market cap of $43.29 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.07 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm earned $9.02 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

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.