J. W. Coons Advisors LLC Increases Holdings in Ameriprise Financial, Inc. $AMP

J. W. Coons Advisors LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 130.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,714 shares of the financial services provider’s stock after buying an additional 2,105 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Ameriprise Financial were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after buying an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after buying an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after buying an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after buying an additional 189,525 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Evercore ISI reduced their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Finally, BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $530.63.

Ameriprise Financial Trading Down 0.0%

Shares of AMP stock opened at $452.58 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $42.67 billion, a PE ratio of 14.08, a PEG ratio of 1.07 and a beta of 1.26. The stock has a fifty day simple moving average of $489.51 and a two-hundred day simple moving average of $503.26.

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

Ameriprise Financial Dividend Announcement

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