Handelsbanken Fonder AB Purchases 1,414 Shares of Ameriprise Financial, Inc. $AMP

Handelsbanken Fonder AB grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,618 shares of the financial services provider’s stock after acquiring an additional 1,414 shares during the period. Handelsbanken Fonder AB’s holdings in Ameriprise Financial were worth $14,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Whipplewood Advisors LLC increased its holdings in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares during the last quarter. TD Capital Management LLC increased its holdings in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth about $29,000. Salomon & Ludwin LLC boosted its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. Finally, Winnow Wealth LLC purchased a new position in Ameriprise Financial during the 2nd quarter valued at approximately $32,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $447.55 on Friday. 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 stock has a market cap of $41.58 billion, a PE ratio of 13.92, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a 50-day moving average price of $475.21 and a 200 day moving average price of $501.47.

Ameriprise Financial (NYSE:AMP) last announced 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. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $9.02 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio is 17.55%.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent research reports. Evercore ISI decreased their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Finally, BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $533.22.

Insiders Place Their Bets

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The stock was 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. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by 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.