Relyea Zuckerberg Hanson LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 546 shares of the financial services provider's stock, valued at approximately $291,000.
Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after buying an additional 83 shares during the last quarter. Spire Wealth Management increased its position in shares of Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after acquiring an additional 683 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth about $371,000. Advisory Alpha LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth about $265,000. Finally, Exchange Traded Concepts LLC lifted its position in Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 806 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.
Insider Transactions at Ameriprise Financial
In other 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
Ameriprise Financial Stock Performance
Shares of Ameriprise Financial stock opened at $493.88 on Tuesday. The business's fifty day simple moving average is $502.45 and its 200 day simple moving average is $502.19. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market capitalization of $46.56 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $8.72 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.
Ameriprise Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. 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 payout ratio is currently 19.91%.
Analysts Set New Price Targets
A number of analysts have commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a report on Saturday, September 27th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Morgan Stanley lowered their price target on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research report on Wednesday, October 1st. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday. They issued a "market perform" rating and a $525.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $535.14.
Read Our Latest Stock Analysis on Ameriprise Financial
About Ameriprise Financial
(
Free Report)
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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