Ethic Inc. Purchases 1,255 Shares of Ameriprise Financial, Inc. $AMP

Ethic Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,075 shares of the financial services provider’s stock after purchasing an additional 1,255 shares during the period. Ethic Inc.’s holdings in Ameriprise Financial were worth $9,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Capital Management LLC grew its holdings in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth approximately $29,000. Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the period. WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC lifted its stake in shares of Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 40 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $5,032,910.81. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $472.46 on Thursday. The stock has a market capitalization of $44.54 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The stock’s 50 day moving average price is $495.56 and its two-hundred day moving average price is $501.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, BMO Capital Markets assumed coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. One 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $539.50.

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.