WBI Investments LLC Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

WBI Investments LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 300.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,843 shares of the financial services provider’s stock after buying an additional 2,133 shares during the period. WBI Investments LLC’s holdings in Ameriprise Financial were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMP. Brighton Jones LLC grew its holdings in shares of Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. Kestra Private Wealth Services LLC boosted its position in Ameriprise Financial by 44.6% in the first quarter. Kestra Private Wealth Services LLC now owns 4,269 shares of the financial services provider’s stock worth $2,067,000 after purchasing an additional 1,316 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Ameriprise Financial by 5.4% during the 1st quarter. IFP Advisors Inc now owns 1,925 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 99 shares during the period. Twin Capital Management Inc. increased its position in shares of Ameriprise Financial by 165.2% during the 1st quarter. Twin Capital Management Inc. now owns 3,135 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 1,953 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Ameriprise Financial by 342.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 3,340 shares of the financial services provider’s stock worth $1,617,000 after purchasing an additional 2,585 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. 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, October 1st. Royal Bank Of Canada cut their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Evercore ISI decreased their target price 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. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Argus decreased their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $533.22.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 3.8%

Shares of Ameriprise Financial stock opened at $440.67 on Tuesday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $40.94 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a fifty day moving average of $479.25 and a 200 day moving average of $502.60.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $9.02 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

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.