NorthRock Partners LLC Has $5.85 Million Stake in Ameriprise Financial, Inc. $AMP

NorthRock Partners LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,955 shares of the financial services provider’s stock after buying an additional 897 shares during the period. NorthRock Partners LLC’s holdings in Ameriprise Financial were worth $5,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. TD Capital Management LLC boosted its stake in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $29,000. WPG Advisers LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial in the first quarter valued at approximately $36,000. Finally, Hager Investment Management Services LLC boosted its stake in Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.4%

Shares of NYSE:AMP opened at $479.75 on Monday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month 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. The company’s fifty day simple moving average is $500.39 and its 200 day simple moving average is $501.72. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In other Ameriprise Financial news, 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 sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction 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 completion of the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Evercore ISI reduced their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Finally, Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. One equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $539.50.

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.