Ameriprise Financial, Inc. $AMP Stock Purchased by Apella Capital LLC

Apella Capital LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5,744.3% during the third quarter, HoldingsChannel reports. The firm owned 48,975 shares of the financial services provider’s stock after purchasing an additional 48,137 shares during the quarter. Apella Capital LLC’s holdings in Ameriprise Financial were worth $24,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in Ameriprise Financial in the second quarter worth about $1,704,000. Neville Rodie & Shaw Inc. increased its position in shares of Ameriprise Financial by 4,524.8% during the third quarter. Neville Rodie & Shaw Inc. now owns 32,651 shares of the financial services provider’s stock valued at $16,076,000 after acquiring an additional 31,945 shares in the last quarter. Ballew Advisors Inc bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $4,112,000. Canandaigua National Bank & Trust Co. purchased a new position in Ameriprise Financial in the 3rd quarter worth approximately $4,162,000. Finally, Iowa State Bank purchased a new position in Ameriprise Financial in the 3rd quarter worth approximately $31,154,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn Brockman sold 472 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% 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 the SEC website. Also, CFO Walter Berman sold 11,012 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMP shares. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research cut Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Bank of America reaffirmed a “buy” rating and set a $570.00 price target on shares of Ameriprise Financial in a report on Monday. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and an average target price of $559.80.

Ameriprise Financial Stock Performance

AMP stock traded up $6.37 on Thursday, hitting $496.93. The company had a trading volume of 164,554 shares, compared to its average volume of 642,498. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.02 and a beta of 1.16. The stock’s 50-day simple moving average is $541.26 and its 200 day simple moving average is $495.04.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $9.11 EPS. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 29th that allows the company to buyback $5.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.