McLean Asset Management Corp Has $668,000 Position in Ameriprise Financial, Inc. $AMP

McLean Asset Management Corp lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,232 shares of the financial services provider’s stock after buying an additional 26 shares during the period. McLean Asset Management Corp’s holdings in Ameriprise Financial were worth $668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs bought a new stake in Ameriprise Financial during the first quarter worth about $1,890,000. Voya Investment Management LLC raised its holdings in Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after acquiring an additional 4,232 shares in the last quarter. Modern Wealth Management LLC raised its holdings in Ameriprise Financial by 12.0% during the first quarter. Modern Wealth Management LLC now owns 950 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 102 shares in the last quarter. Strs Ohio bought a new stake in Ameriprise Financial during the first quarter worth about $6,439,000. Finally, Jacobi Capital Management LLC raised its holdings in Ameriprise Financial by 4.9% during the first quarter. Jacobi Capital Management LLC now owns 3,727 shares of the financial services provider’s stock worth $1,804,000 after acquiring an additional 175 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm’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 transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $497.15 on Friday. The firm has a market cap of $46.87 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27. 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 1-year low of $396.14 and a 1-year high of $582.05. The business’s 50 day moving average is $515.73 and its 200-day moving average is $503.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $8.72 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Royal Bank Of Canada upped their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Morgan Stanley lowered Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $534.71.

Ameriprise Financial Company 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.