Pinnacle Wealth Planning Services Inc. Purchases 130 Shares of Ameriprise Financial, Inc. $AMP

Pinnacle Wealth Planning Services Inc. boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 859 shares of the financial services provider’s stock after buying an additional 130 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Ameriprise Financial were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its position in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. TD Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $29,000. Finally, WPG Advisers LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at $33,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMP. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Argus reduced their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $533.22.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on 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 owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $442.88 on Wednesday. The firm has a market capitalization of $41.15 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.07 and a beta of 1.28. 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’s 50-day moving average price is $478.22 and its 200-day moving average price is $502.31. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data 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 business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the business earned $9.02 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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