Janney Montgomery Scott LLC Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Janney Montgomery Scott LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,893 shares of the financial services provider’s stock after purchasing an additional 1,391 shares during the period. Janney Montgomery Scott LLC’s holdings in Ameriprise Financial were worth $5,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in Ameriprise Financial during the 3rd quarter worth about $25,000. Financial Freedom LLC acquired a new position in Ameriprise Financial during the 4th quarter worth about $27,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth about $30,000. FinTrust Capital Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Ameriprise Financial by 106.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now owns 12,500 shares in the company, valued at approximately $4,832,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold 48,538 shares of company stock worth $18,523,263 in the last quarter. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.1 %

AMP opened at $397.37 on Tuesday. Ameriprise Financial, Inc. has a one year low of $275.09 and a one year high of $402.64. The company has a market cap of $40.21 billion, a P/E ratio of 16.76, a PEG ratio of 0.74 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.57 and a current ratio of 0.56. The business’s 50-day simple moving average is $379.68 and its 200-day simple moving average is $351.48.

Ameriprise Financial (NYSE:AMPGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the business posted $6.94 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.05 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 9th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.36%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMP. Royal Bank of Canada increased their target price on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group raised Ameriprise Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $355.00 to $452.00 in a research report on Wednesday, January 3rd. Evercore ISI lowered Ameriprise Financial from an “outperform” rating to an “in-line” rating and increased their price target for the company from $385.00 to $400.00 in a research report on Thursday, January 4th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $394.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $422.83.

Get Our Latest Stock Analysis on AMP

Ameriprise Financial Profile

(Free Report)

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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