Pinnacle Wealth Planning Services Inc. Buys 130 Shares of Ameriprise Financial, Inc. $AMP

Pinnacle Wealth Planning Services Inc. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.8% in the second quarter, HoldingsChannel.com reports. The firm owned 859 shares of the financial services provider’s stock after purchasing an additional 130 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Ameriprise Financial were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Nordwand Advisors LLC acquired a new stake in shares of Ameriprise Financial during the second quarter worth $10,134,000. WBI Investments LLC boosted its position in Ameriprise Financial by 300.4% during the second quarter. WBI Investments LLC now owns 2,843 shares of the financial services provider’s stock valued at $1,517,000 after acquiring an additional 2,133 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Ameriprise Financial by 0.8% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,426 shares of the financial services provider’s stock worth $2,896,000 after acquiring an additional 44 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Ameriprise Financial by 2.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,731 shares of the financial services provider’s stock worth $22,807,000 after acquiring an additional 1,117 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth about $222,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley cut their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Argus reduced their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Finally, Evercore ISI cut their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Trading Up 0.5%

Shares of Ameriprise Financial stock opened at $442.88 on Wednesday. The stock has a market capitalization of $41.15 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The stock has a 50 day moving average price of $478.22 and a two-hundred day moving average price of $502.31. 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 issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business earned $9.02 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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 issued 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 is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.55%.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’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 completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

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.