Ameriprise Financial, Inc. $AMP Position Lifted by Simon Quick Advisors LLC

Simon Quick Advisors LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 29.7% during the second quarter, HoldingsChannel reports. The fund owned 712 shares of the financial services provider’s stock after acquiring an additional 163 shares during the quarter. Simon Quick Advisors LLC’s holdings in Ameriprise Financial were worth $380,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMP. Brighton Jones LLC increased its holdings in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Ameriprise Financial by 6.5% in the first quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider’s stock valued at $2,140,000 after buying an additional 268 shares during the last quarter. Strategic Blueprint LLC increased its holdings in Ameriprise Financial by 32.0% in the first quarter. Strategic Blueprint LLC now owns 565 shares of the financial services provider’s stock valued at $274,000 after buying an additional 137 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Ameriprise Financial in the first quarter valued at about $120,000. Finally, World Investment Advisors increased its holdings in Ameriprise Financial by 1.7% in the first quarter. World Investment Advisors now owns 1,654 shares of the financial services provider’s stock valued at $800,000 after buying an additional 27 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Stock Down 0.3%

AMP stock opened at $452.91 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The firm’s 50-day simple moving average is $490.69 and its 200 day simple moving average is $503.34. The stock has a market cap of $42.70 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26.

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 analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter last year, the company earned $9.02 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be given a dividend of $1.60 per share. The ex-dividend date is Monday, November 10th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s payout ratio is currently 17.55%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

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.