Illinois Municipal Retirement Fund Has $7.87 Million Position in Ameriprise Financial, Inc. $AMP

Illinois Municipal Retirement Fund lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 40.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,749 shares of the financial services provider’s stock after acquiring an additional 4,228 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ameriprise Financial were worth $7,872,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its position in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares during the period. TD Capital Management LLC raised its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at $29,000. Salomon & Ludwin LLC boosted its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Ameriprise Financial during the first quarter worth $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 1.2%

Shares of NYSE AMP opened at $464.78 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The company has a 50-day moving average of $482.70 and a two-hundred day moving average of $502.97. The company has a market cap of $43.18 billion, a PE ratio of 14.46, a P/E/G ratio of 1.07 and a beta of 1.28. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.02 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, 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 is available in the SEC filing. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Morgan Stanley dropped their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Evercore ISI cut their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $530.63.

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.