Fifth Third Wealth Advisors LLC Has $2.09 Million Position in Ameriprise Financial, Inc. $AMP

Fifth Third Wealth Advisors LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 3,922 shares of the financial services provider’s stock after selling 91 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,093,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMP. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $29,000. TD Capital Management LLC boosted its position in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after buying an additional 51 shares during the period. WPG Advisers LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $36,000. Finally, Hager Investment Management Services LLC boosted its position in Ameriprise Financial by 114.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after buying an additional 40 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMP shares. Keefe, Bruyette & Woods lifted their target price 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. Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Finally, Raymond James Financial lifted their target price 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. One research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Stock Down 2.4%

Ameriprise Financial stock opened at $479.75 on Friday. 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, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The firm has a 50 day moving average price of $500.39 and a two-hundred day moving average price of $501.70. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

Insider Buying and Selling at Ameriprise Financial

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

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.