Ameriprise Financial, Inc. $AMP Stake Boosted by Inceptionr LLC

Inceptionr LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 38.5% during the second quarter, Holdings Channel reports. The firm owned 1,511 shares of the financial services provider’s stock after buying an additional 420 shares during the period. Inceptionr LLC’s holdings in Ameriprise Financial were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AMP. Whipplewood Advisors LLC grew its stake 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 buying an additional 22 shares during the last quarter. TD Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 566.7% during the first 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 during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial during the first quarter valued at $29,000. Salomon & Ludwin LLC grew its position in shares of Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth about $32,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price for the company. Evercore ISI reduced their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Royal Bank Of Canada decreased their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Finally, Argus decreased their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $533.22.

Insider Transactions at Ameriprise Financial

In other news, 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 completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $453.56 on Thursday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market capitalization of $42.14 billion, a PE ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.28. The company’s 50 day simple moving average is $473.07 and its 200 day simple moving average is $500.71. 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 (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm posted $9.02 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

About Ameriprise Financial

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.