Hillsdale Investment Management Inc. Buys Shares of 2,100 Ameriprise Financial, Inc. $AMP

Hillsdale Investment Management Inc. bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,100 shares of the financial services provider’s stock, valued at approximately $1,030,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMP. PFG Investments LLC boosted its position in shares of Ameriprise Financial by 1.4% in the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Ameriprise Financial by 3.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares in the last quarter. EPG Wealth Management LLC boosted its position in shares of Ameriprise Financial by 0.8% in the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 21 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Ameriprise Financial by 0.8% in the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after purchasing an additional 23 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Ameriprise Financial by 5.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued 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. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $543.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $446.93 on Tuesday. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day moving average of $455.55 and a 200 day moving average of $472.92. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $9.50 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

About Ameriprise Financial

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.