Board of the Pension Protection Fund Buys Shares of 1,100 Ameriprise Financial, Inc. $AMP

Board of the Pension Protection Fund acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,100 shares of the financial services provider’s stock, valued at approximately $587,000.

A number of other large investors also recently bought and sold shares of AMP. Brighton Jones LLC boosted its stake in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Ameriprise Financial by 61.0% during the first quarter. Farther Finance Advisors LLC now owns 1,402 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 531 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the first quarter valued at $966,000. Wealthcare Advisory Partners LLC boosted its position in Ameriprise Financial by 7.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 470 shares of the financial services provider’s stock valued at $228,000 after buying an additional 33 shares during the period. Finally, GAMMA Investing LLC boosted its position in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,114,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.4%

Shares of NYSE AMP opened at $479.75 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $45.23 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The business has a fifty day moving average price of $500.39 and a 200 day moving average price of $501.70.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $8.72 earnings per share. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given 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 presently 19.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Evercore ISI lowered their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday. BMO Capital Markets began coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley lowered their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial 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.