Valeo Financial Advisors LLC Raises Stake in Ameriprise Financial, Inc. $AMP

Valeo Financial Advisors LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 76.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,063 shares of the financial services provider's stock after buying an additional 895 shares during the period. Valeo Financial Advisors LLC's holdings in Ameriprise Financial were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Ameriprise Financial by 2.1% during the 1st quarter. UMB Bank n.a. now owns 3,163 shares of the financial services provider's stock worth $1,531,000 after purchasing an additional 65 shares during the period. Miracle Mile Advisors LLC grew its stake in shares of Ameriprise Financial by 39.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 1,489 shares of the financial services provider's stock worth $721,000 after purchasing an additional 424 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Ameriprise Financial by 61.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,402 shares of the financial services provider's stock worth $685,000 after purchasing an additional 531 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter worth $722,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.7%

AMP stock opened at $497.05 on Wednesday. The company's 50-day moving average price is $501.97 and its 200 day moving average price is $502.15. The company has a market cap of $46.86 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.12 and a beta of 1.26. 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 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion for 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 company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.72 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMP shares. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a "market perform" rating and a $525.00 target price on the stock. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ameriprise Financial in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $535.14.

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.

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