MJP Associates Inc. ADV Has $653,000 Position in Ameriprise Financial, Inc. $AMP

MJP Associates Inc. ADV raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the financial services provider’s stock after buying an additional 217 shares during the period. MJP Associates Inc. ADV’s holdings in Ameriprise Financial were worth $653,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Whipplewood Advisors LLC raised its holdings 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 worth $28,000 after acquiring an additional 22 shares during the last quarter. TD Capital Management LLC boosted its stake in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC raised its stake in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial 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 completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada cut their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Morgan Stanley reduced their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Trading Down 0.3%

NYSE:AMP opened at $457.97 on Friday. 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. The firm’s 50 day moving average is $480.28 and its 200 day moving average is $502.37. The stock has a market capitalization of $42.55 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $9.02 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

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.