Ameriprise Financial, Inc. $AMP Stock Position Lifted by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 950 shares of the financial services provider’s stock after purchasing an additional 102 shares during the period. Modern Wealth Management LLC’s holdings in Ameriprise Financial were worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ameriprise Financial by 55.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after buying an additional 796,925 shares during the last quarter. GAMMA Investing LLC raised its stake in Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider’s stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ameriprise Financial by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider’s stock valued at $770,886,000 after purchasing an additional 23,655 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after purchasing an additional 266,631 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $534.71.

Ameriprise Financial Stock Down 0.8%

AMP opened at $497.15 on Monday. The firm’s 50-day simple moving average is $515.73 and its 200-day simple moving average is $502.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The firm has a market cap of $46.87 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.06 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share 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 for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is currently 19.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction 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. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is 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.