Ascent Group LLC Has $429,000 Holdings in Ameriprise Financial, Inc. $AMP

Ascent Group LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% in the second quarter, Holdings Channel reports. The firm owned 804 shares of the financial services provider’s stock after buying an additional 38 shares during the quarter. Ascent Group LLC’s holdings in Ameriprise Financial were worth $429,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. New Century Financial Group LLC acquired a new position in Ameriprise Financial in the second quarter valued at about $249,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Ameriprise Financial by 44.7% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,071 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 331 shares during the period. Abundance Wealth Counselors grew its stake in Ameriprise Financial by 75.1% in the second quarter. Abundance Wealth Counselors now owns 2,323 shares of the financial services provider’s stock valued at $1,240,000 after acquiring an additional 996 shares during the period. Hilltop National Bank acquired a new position in Ameriprise Financial in the second quarter valued at about $2,831,000. Finally, Lecap Asset Management Ltd. acquired a new position in Ameriprise Financial in the second quarter valued at about $577,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Saturday, September 27th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $535.14.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $497.05 on Wednesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The firm has a market cap of $46.86 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50-day moving average is $501.97 and its 200-day moving average is $502.15.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the company posted $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was 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 in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

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.