5,940 Shares in Ameriprise Financial, Inc. $AMP Purchased by United Capital Financial Advisors LLC

Key Points

• United Capital Financial Advisors purchased 5,940 Ameriprise Financial shares worth approximately $2.725 million in the second quarter. Institutional investors collectively own 83.95% of AMP.
• Analyst sentiment is broadly positive, with Ameriprise carrying a “Moderate Buy” consensus rating and an average price target of $555.33. Recent target changes ranged from $489 to $645.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates, while revenue rose 11.6% year over year to $4.90 billion. The company also paid a quarterly dividend of $1.70 per share, equivalent to a 1.2% annualized yield.

United Capital Financial Advisors LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,940 shares of the financial services provider's stock, valued at approximately $2,725,000.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC raised its position in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Ameriprise Financial in the second quarter worth $313,000. Finally, Gabelli Funds LLC grew its holdings in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after purchasing an additional 2,922 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. Morgan Stanley increased their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Jefferies Financial Group raised their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Moderate Buy" and an average target price of $555.33.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares of the company's stock, valued at $1,883,078.44. This trade represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last three months. Company insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $559.79 on Friday. The firm has a market capitalization of $50.33 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company's fifty day moving average price is $526.87 and its 200-day moving average price is $482.80.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $9.11 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio is currently 16.40%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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