Arkadios Wealth Advisors Purchases 1,031 Shares of Ameriprise Financial, Inc. $AMP

Arkadios Wealth Advisors raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 33.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,137 shares of the financial services provider’s stock after purchasing an additional 1,031 shares during the period. Arkadios Wealth Advisors’ holdings in Ameriprise Financial were worth $2,032,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMP. Trust Co. of Vermont raised its holdings in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 19 shares in the last quarter. Old Port Advisors grew its position in Ameriprise Financial by 1.5% during the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in Ameriprise Financial by 0.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after acquiring an additional 20 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 21 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the transaction, the director directly owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.7%

NYSE AMP opened at $507.35 on Friday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The stock has a market capitalization of $47.14 billion, a PE ratio of 13.91, a PEG ratio of 1.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50-day moving average is $483.94 and its 200 day moving average is $493.50.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. The business 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 64.97% and a net margin of 20.12%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $9.02 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 10th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Argus reduced their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Royal Bank Of Canada dropped their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. BMO Capital Markets assumed coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $528.75.

About Ameriprise Financial

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.