Hager Investment Management Services LLC Raises Stock Position in Ameriprise Financial, Inc. $AMP

Hager Investment Management Services LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 114.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75 shares of the financial services provider’s stock after acquiring an additional 40 shares during the period. Hager Investment Management Services LLC’s holdings in Ameriprise Financial were worth $40,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $29,000. TD Capital Management LLC grew its stake in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $36,000. Finally, TCTC Holdings LLC grew its stake in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.5%

Shares of NYSE AMP opened at $490.09 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. 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 $46.20 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The firm has a fifty day simple moving average of $501.37 and a two-hundred day simple moving average of $502.07.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data 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 business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business earned $8.72 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 19.91%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMP. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $535.14.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’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 completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was 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 of the company’s stock, valued at $5,599,613.83. This trade 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 currently owned by corporate insiders.

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.