Ritholtz Wealth Management Purchases 82 Shares of Ameriprise Financial, Inc. $AMP

Ritholtz Wealth Management increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,843 shares of the financial services provider’s stock after purchasing an additional 82 shares during the quarter. Ritholtz Wealth Management’s holdings in Ameriprise Financial were worth $984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Vermont lifted its position in Ameriprise Financial by 0.6% during the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 19 shares during the period. Plancorp LLC lifted its position in Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors lifted its position in Ameriprise Financial by 1.5% during the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the period. Pinnacle Associates Ltd. grew its position in Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 21 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $470.03 on Friday. The stock has a market cap of $44.31 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. 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 50-day moving average is $497.70 and its 200-day moving average is $501.28. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. The company 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $8.72 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s payout ratio is currently 19.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMP shares. Royal Bank Of Canada lifted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Morgan Stanley decreased their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Raymond James Financial lifted their target price 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $539.50.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% 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, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

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.