Kelleher Financial Advisors Grows Stock Position in Ameriprise Financial, Inc. $AMP

Kelleher Financial Advisors lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 477.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,766 shares of the financial services provider’s stock after acquiring an additional 1,460 shares during the period. Kelleher Financial Advisors’ holdings in Ameriprise Financial were worth $810,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at $742,438,000. AQR Capital Management LLC lifted its holdings in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares in the last quarter. M&T Bank Corp boosted its stake in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after purchasing an additional 435,885 shares during the last quarter. First Trust Advisors LP boosted its stake in Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after purchasing an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after buying an additional 275,659 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

NYSE:AMP opened at $570.06 on Friday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14. The stock’s fifty day moving average is $507.03 and its two-hundred day moving average is $480.30.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.11 EPS. Equities analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is 16.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.