Police & Firemen s Retirement System of New Jersey Buys 510 Shares of Ameriprise Financial, Inc. $AMP

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,513 shares of the financial services provider’s stock after purchasing an additional 510 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ameriprise Financial were worth $7,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Trust Co. of Vermont grew its holdings in shares of Ameriprise Financial by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 19 shares during the last quarter. Plancorp LLC lifted its holdings in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares during the last quarter. Old Port Advisors lifted its holdings in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in Ameriprise Financial by 0.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 20 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew 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 worth $665,000 after buying an additional 21 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $459.17 on Friday. The stock has a market capitalization of $42.66 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $480.91 and a two-hundred day moving average price of $502.44.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm earned $9.02 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Insiders Place Their Bets

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s 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 $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on 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 sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMP shares. Argus cut their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Finally, Raymond James Financial raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $533.22.

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.