Financial Advocates Investment Management Has $878,000 Stake in Ameriprise Financial, Inc. $AMP

Financial Advocates Investment Management reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 46.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,646 shares of the financial services provider’s stock after selling 1,452 shares during the quarter. Financial Advocates Investment Management’s holdings in Ameriprise Financial were worth $878,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its holdings in shares of Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares in the last quarter. Salomon & Ludwin LLC raised its position in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. TD Capital Management LLC lifted its stake in 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 position in Ameriprise Financial during the 1st quarter worth approximately $29,000. Finally, Winnow Wealth LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth approximately $32,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s 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 completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Royal Bank Of Canada lowered their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Evercore ISI reduced their price objective on shares of 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. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $533.22.

Ameriprise Financial Stock Performance

Shares of AMP opened at $453.56 on Thursday. The company has a market cap of $42.14 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. The firm has a 50-day moving average of $473.07 and a 200-day moving average of $500.71. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62.

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 analysts’ consensus estimates 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 analysts’ expectations of $4.51 billion. During the same period in the prior year, the firm earned $9.02 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts forecast 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 was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) 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.