Ameriprise Financial, Inc. $AMP Shares Acquired by Burney Co.

Burney Co. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,125 shares of the financial services provider’s stock after purchasing an additional 275 shares during the period. Burney Co.’s holdings in Ameriprise Financial were worth $4,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC lifted its position in Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares in the last quarter. TD Capital Management LLC lifted its position in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC lifted its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

AMP stock opened at $452.58 on Tuesday. 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, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The stock’s 50 day moving average is $489.51 and its two-hundred day moving average is $503.26. The company has a market capitalization of $42.67 billion, a PE ratio of 14.08, a P/E/G ratio of 1.07 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the business earned $9.02 EPS. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be issued 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 is Monday, November 10th. Ameriprise Financial’s payout ratio is 17.55%.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Morgan Stanley reduced their price target 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. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada reduced their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. 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 given a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $530.63.

Ameriprise Financial 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.