Ameriprise Financial, Inc. $AMP Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 40.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,749 shares of the financial services provider’s stock after buying an additional 4,228 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ameriprise Financial were worth $7,872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Zions Bancorporation National Association UT lifted its holdings in shares of Ameriprise Financial by 123.0% during the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 123 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after buying an additional 21 shares in the last quarter. Midwest Trust Co acquired a new position in shares of Ameriprise Financial in the second quarter worth about $57,920,000. CSM Advisors LLC purchased a new position in shares of Ameriprise Financial in the second quarter worth approximately $21,564,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ameriprise Financial by 281.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,988 shares of the financial services provider’s stock valued at $12,269,000 after acquiring an additional 16,960 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Morgan Stanley lowered their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. BMO Capital Markets initiated 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. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $530.63.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 1.2%

Shares of AMP stock opened at $464.78 on Wednesday. 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 business’s 50 day moving average is $482.70 and its two-hundred day moving average is $502.97. The company has a market cap of $43.18 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.55%.

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.