Prudent Man Advisors LLC Buys 320 Shares of Ameriprise Financial, Inc. $AMP

Prudent Man Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,293 shares of the financial services provider’s stock after acquiring an additional 320 shares during the quarter. Prudent Man Advisors LLC’s holdings in Ameriprise Financial were worth $1,758,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 30 shares in the last quarter. TD Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 566.7% in 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 in the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth $29,000. Finally, WPG Advisers LLC bought a new position in shares of Ameriprise Financial in the 1st quarter worth $33,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $478.90 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $494.36 and its two-hundred day simple moving average is $502.85. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The stock has a market cap of $45.15 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $8.72 EPS. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Evercore ISI cut their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $539.50.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated 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 owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

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.