Farther Finance Advisors LLC Grows Stake in Ameriprise Financial, Inc. $AMP

Farther Finance Advisors LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,642 shares of the financial services provider’s stock after purchasing an additional 240 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ameriprise Financial were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Plancorp LLC boosted its stake in Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after buying an additional 20 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after buying an additional 21 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after buying an additional 21 shares during the last quarter. Argent Trust Co boosted its stake in Ameriprise Financial by 1.3% during the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider’s stock valued at $822,000 after buying an additional 21 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Ameriprise Financial by 1.3% during the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock valued at $852,000 after buying an additional 22 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AMP shares. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Raymond James Financial raised their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Wall Street Zen raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Morgan Stanley lowered Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $544.50.

Ameriprise Financial Trading Up 0.1%

AMP opened at $492.16 on Friday. The stock’s fifty day moving average is $507.59 and its two-hundred day moving average is $501.68. The company has a market capitalization of $46.40 billion, a P/E ratio of 15.31, a PEG ratio of 1.05 and a beta of 1.27. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. 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 released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $8.72 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

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.