Ameriprise Financial, Inc. $AMP Stock Position Raised by Abundance Wealth Counselors

Abundance Wealth Counselors lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 75.1% in the 2nd quarter, Holdings Channel reports. The fund owned 2,323 shares of the financial services provider’s stock after buying an additional 996 shares during the period. Abundance Wealth Counselors’ holdings in Ameriprise Financial were worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $2,831,000. Lecap Asset Management Ltd. purchased a new stake in Ameriprise Financial in the 2nd quarter worth approximately $577,000. SOA Wealth Advisors LLC. lifted its position in Ameriprise Financial by 1.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 10,026 shares of the financial services provider’s stock worth $5,351,000 after buying an additional 187 shares in the last quarter. Trust Co. of Vermont lifted its position in 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 buying an additional 19 shares in the last quarter. Finally, Childress Capital Advisors LLC lifted its position in Ameriprise Financial by 16.0% in the 2nd quarter. Childress Capital Advisors LLC now owns 667 shares of the financial services provider’s stock worth $356,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were 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 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 filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $491.33 on Friday. The company’s fifty day moving average is $503.52 and its 200-day moving average is $502.08. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The firm has a market cap of $46.32 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.03 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, topping 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 in the prior year, the business posted $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMP shares. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Piper Sandler increased their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $536.83.

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.