587 Shares in Ameriprise Financial, Inc. $AMP Purchased by Schnieders Capital Management LLC

Schnieders Capital Management LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 587 shares of the financial services provider’s stock, valued at approximately $313,000.

Other institutional investors have also made changes to their positions in the company. TD Capital Management LLC lifted its position in shares of Ameriprise Financial by 566.7% in the 1st 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 in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter valued at $29,000. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at $33,000. Finally, Hager Investment Management Services LLC boosted its position in shares of 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 worth $40,000 after buying an additional 40 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.5%

NYSE:AMP opened at $472.65 on Tuesday. The company has a market capitalization of $44.56 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.05 and a beta of 1.26. The stock’s 50 day moving average price is $497.02 and its 200 day moving average price is $501.96. 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.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $8.72 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMP shares. BMO Capital Markets began coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $539.50.

About Ameriprise Financial

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.