Gallacher Capital Management LLC Invests $840,000 in Ameriprise Financial, Inc. $AMP

Gallacher Capital Management LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,710 shares of the financial services provider’s stock, valued at approximately $840,000.

Several other large investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC increased its stake in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC grew its holdings in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Winnow Wealth LLC bought a new position in Ameriprise Financial during the 2nd quarter worth $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the third quarter worth $32,000. Finally, WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the second quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $544.61 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $552.43. The stock has a market capitalization of $50.60 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26. The stock has a fifty day moving average of $496.25 and a 200-day moving average of $491.95.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.54 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMP shares. Argus lowered their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.