Virtus Investment Advisers LLC Buys 487 Shares of Ameriprise Financial, Inc. $AMP

Virtus Investment Advisers LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,973 shares of the financial services provider’s stock after buying an additional 487 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Ameriprise Financial were worth $1,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Ameriprise Financial by 6.5% in the first quarter. Avantax Advisory Services Inc. now owns 2,579 shares of the financial services provider’s stock worth $1,249,000 after purchasing an additional 158 shares during the period. Mackenzie Financial Corp increased its stake in Ameriprise Financial by 8.0% in the first quarter. Mackenzie Financial Corp now owns 11,420 shares of the financial services provider’s stock worth $5,529,000 after purchasing an additional 850 shares during the period. GSA Capital Partners LLP lifted its position in shares of Ameriprise Financial by 378.7% during the first quarter. GSA Capital Partners LLP now owns 2,494 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 1,973 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Ameriprise Financial during the first quarter valued at $1,075,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Argus reduced their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. BMO Capital Markets initiated 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. Keefe, Bruyette & Woods decreased their price target 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. Evercore ISI dropped their price objective on 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $453.56 on Friday. The firm has a market cap of $42.14 billion, a price-to-earnings ratio of 14.11, a PEG 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 company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $472.31 and its 200 day moving average is $500.38.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter last year, the firm earned $9.02 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s payout ratio is 17.55%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the 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 approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the director owned 7,500 shares in the company, valued at $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.