Moran Wealth Management LLC Has $41.63 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Moran Wealth Management LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 77,993 shares of the financial services provider’s stock after selling 2,803 shares during the period. Ameriprise Financial accounts for approximately 1.3% of Moran Wealth Management LLC’s holdings, making the stock its 10th biggest holding. Moran Wealth Management LLC owned 0.08% of Ameriprise Financial worth $41,627,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter worth approximately $29,000. TD Capital Management LLC raised 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 valued at $29,000 after acquiring an additional 51 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $36,000. Finally, Hager Investment Management Services LLC raised 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 valued at $40,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.5%

Shares of NYSE:AMP opened at $482.04 on Tuesday. The company’s 50-day moving average price is $499.90 and its 200 day moving average price is $501.72. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a market cap of $45.44 billion, a PE ratio of 15.00, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last announced 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 company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business earned $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

Analysts Set New Price Targets

Several research firms have weighed in on AMP. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target 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. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Finally, Evercore ISI dropped their price target on 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. 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 issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $539.50.

Insiders Place Their Bets

In related 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 transaction of $5,032,910.81. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’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 transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Company 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.