Avantax Advisory Services Inc. Has $1.96 Million Position in Ameriprise Financial, Inc. $AMP

Avantax Advisory Services Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 42.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,665 shares of the financial services provider’s stock after acquiring an additional 1,086 shares during the period. Avantax Advisory Services Inc.’s holdings in Ameriprise Financial were worth $1,956,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. MJP Associates Inc. ADV lifted its stake in Ameriprise Financial by 21.6% in the 2nd quarter. MJP Associates Inc. ADV now owns 1,223 shares of the financial services provider’s stock valued at $653,000 after purchasing an additional 217 shares during the last quarter. WealthTrust Asset Management LLC raised its stake in Ameriprise Financial by 1.5% in the second quarter. WealthTrust Asset Management LLC now owns 1,565 shares of the financial services provider’s stock valued at $835,000 after buying an additional 23 shares during the period. Creative Planning lifted its position in shares of Ameriprise Financial by 8.1% in the second quarter. Creative Planning now owns 28,551 shares of the financial services provider’s stock valued at $15,238,000 after buying an additional 2,141 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Ameriprise Financial by 6.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,354 shares of the financial services provider’s stock valued at $12,465,000 after buying an additional 1,354 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $210,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $447.55 on Friday. The company has a market cap of $41.58 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.07 and a beta of 1.28. 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 stock has a fifty day moving average price of $475.21 and a 200-day moving average price of $501.29.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.02 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMP. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Argus cut their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $533.22.

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.