Schnieders Capital Management LLC Purchases Shares of 587 Ameriprise Financial, Inc. $AMP

Schnieders Capital Management LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 587 shares of the financial services provider’s stock, valued at approximately $313,000.

Several other large investors have also made changes to their positions in AMP. GAMMA Investing LLC increased its position in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after buying an additional 83 shares during the period. NorthRock Partners LLC boosted its position in shares of Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after acquiring an additional 897 shares during the period. Spire Wealth Management grew its stake in shares of Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after acquiring an additional 683 shares during the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial during the first quarter worth $371,000. Finally, Advisory Alpha LLC bought a new position in Ameriprise Financial during the first quarter worth $265,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.5%

Shares of AMP opened at $472.65 on Tuesday. The stock has a market cap of $44.56 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.05 and a beta of 1.26. 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 12 month low of $396.14 and a 12 month high of $582.05. The company has a 50-day moving average price of $497.02 and a two-hundred day moving average price of $501.96.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction that occurred 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 approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $539.50.

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.