MAI Capital Management Buys 1,977 Shares of Ameriprise Financial, Inc. $AMP

MAI Capital Management grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 27.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,311 shares of the financial services provider’s stock after acquiring an additional 1,977 shares during the quarter. MAI Capital Management’s holdings in Ameriprise Financial were worth $4,574,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AMP. Zhang Financial LLC increased its stake in Ameriprise Financial by 13.6% during the 3rd quarter. Zhang Financial LLC now owns 4,653 shares of the financial services provider’s stock valued at $2,286,000 after purchasing an additional 557 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in shares of Ameriprise Financial by 7.9% in the third quarter. Cozad Asset Management Inc. now owns 411 shares of the financial services provider’s stock worth $202,000 after buying an additional 30 shares in the last quarter. Mufg Securities Americas Inc. grew its holdings in shares of Ameriprise Financial by 20.5% during the third quarter. Mufg Securities Americas Inc. now owns 2,543 shares of the financial services provider’s stock valued at $1,249,000 after buying an additional 433 shares during the last quarter. Compound Planning Inc. increased its position in shares of Ameriprise Financial by 33.7% during the third quarter. Compound Planning Inc. now owns 1,402 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 353 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in shares of Ameriprise Financial by 20.7% during the third quarter. Legacy Financial Advisors Inc. now owns 582 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 100 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,658 shares of company stock worth $8,998,675. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMP. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Up 1.8%

AMP stock opened at $486.88 on Friday. The company has a market cap of $44.39 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The business’s 50-day moving average is $499.40 and its two-hundred day moving average is $488.88. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the company posted $9.54 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.