Foster & Motley Inc. Cuts Position in Ameriprise Financial, Inc. $AMP

Foster & Motley Inc. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,514 shares of the financial services provider’s stock after selling 457 shares during the quarter. Foster & Motley Inc.’s holdings in Ameriprise Financial were worth $11,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Capital Management LLC lifted its position in shares of Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter valued at $29,000. WPG Advisers LLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $33,000. Hager Investment Management Services LLC boosted its position in shares of Ameriprise Financial by 114.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 40 shares in the last quarter. Finally, TCTC Holdings LLC increased its holdings in shares of Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMP shares. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods upped their target price 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. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Stock Performance

Shares of AMP opened at $470.03 on Friday. The company’s 50 day simple moving average is $497.70 and its 200-day simple moving average is $501.23. The firm has a market cap of $44.31 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. 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 (NYSE:AMP) last released its quarterly 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 firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. Ameriprise Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’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 value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, 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. Insiders own 0.73% 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.