Vanguard Group Inc. Buys 111,386 Shares of Ameriprise Financial, Inc. $AMP

Vanguard Group Inc. raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,432,261 shares of the financial services provider’s stock after buying an additional 111,386 shares during the quarter. Vanguard Group Inc. owned about 13.19% of Ameriprise Financial worth $6,635,471,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont raised its position in shares of Ameriprise Financial by 0.6% in the 2nd 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 last quarter. Plancorp LLC increased its stake in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares in the last quarter. Old Port Advisors increased its stake in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Ameriprise Financial by 0.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after buying an additional 21 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In related news, 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. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $442.88 on Wednesday. The firm has a market capitalization of $41.15 billion, a P/E ratio of 13.78, a PEG ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The business has a fifty day moving average of $478.22 and a 200 day moving average of $502.31.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.02 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AMP shares. Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada dropped 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, William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $533.22.

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.