Financial Advocates Investment Management Has $878,000 Position in Ameriprise Financial, Inc. $AMP

Financial Advocates Investment Management lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 46.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,646 shares of the financial services provider’s stock after selling 1,452 shares during the period. Financial Advocates Investment Management’s holdings in Ameriprise Financial were worth $878,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Whipplewood Advisors LLC grew its holdings in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares in the last quarter. TD Capital Management LLC lifted its position in 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 period. Wealth Preservation Advisors LLC bought a new stake in Ameriprise Financial during the first quarter worth about $29,000. Salomon & Ludwin LLC grew 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, Winnow Wealth LLC bought a new position in Ameriprise Financial in the 2nd quarter valued at about $32,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada lowered 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 report on Monday, November 3rd. Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Finally, Evercore ISI lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $533.22.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $453.56 on Thursday. The firm’s fifty day moving average price is $473.07 and its two-hundred day moving average price is $500.71. The stock has a market cap of $42.14 billion, a PE ratio of 14.11, a PEG ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. 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 announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the prior year, the company earned $9.02 EPS. Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

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.