Ameriprise Financial, Inc. $AMP Holdings Lifted by Abundance Wealth Counselors

Key Points

• Abundance Wealth Counselors increased its stake in Ameriprise Financial by 75.1%, owning 2,323 shares valued at $1,240,000 as of the latest SEC filing.
• Ameriprise Financial reported $9.11 EPS for the last quarter, exceeding expectations and marking a 2.2% year-over-year revenue increase to $4.49 billion.
• The company declared a quarterly dividend of $1.60 per share, representing a 1.3% yield and a payout ratio of 19.91%.

Abundance Wealth Counselors grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 75.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,323 shares of the financial services provider's stock after purchasing an additional 996 shares during the period. Abundance Wealth Counselors' holdings in Ameriprise Financial were worth $1,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. Brighton Jones LLC grew 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 worth $413,000 after purchasing an additional 50 shares during the last quarter. Wellington Management Group LLP grew its position in Ameriprise Financial by 19.1% in the 4th quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider's stock worth $866,000 after purchasing an additional 261 shares during the last quarter. NBC Securities Inc. grew its position in Ameriprise Financial by 142,200.0% in the 1st quarter. NBC Securities Inc. now owns 1,423 shares of the financial services provider's stock worth $688,000 after purchasing an additional 1,422 shares during the last quarter. Merit Financial Group LLC grew its position in Ameriprise Financial by 118.2% in the 1st quarter. Merit Financial Group LLC now owns 3,866 shares of the financial services provider's stock worth $1,872,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Apella Capital LLC grew its position in Ameriprise Financial by 4.1% in the 1st quarter. Apella Capital LLC now owns 581 shares of the financial services provider's stock worth $275,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 1.0%

AMP stock opened at $491.33 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market cap of $46.32 billion, a PE ratio of 15.29, a P/E/G ratio of 1.03 and a beta of 1.26. The firm has a 50 day simple moving average of $503.52 and a 200 day simple moving average of $502.08. 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 - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business earned $8.72 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is currently 19.91%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial increased their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $536.83.

Insider Activity at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction 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 represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

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.

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