Whittier Trust Co. Raises Holdings in Ameriprise Financial, Inc. $AMP

Whittier Trust Co. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 861 shares of the financial services provider’s stock after purchasing an additional 57 shares during the period. Whittier Trust Co.’s holdings in Ameriprise Financial were worth $460,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Ameriprise Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 83 shares during the last quarter. NorthRock Partners LLC lifted its holdings in shares of Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock valued at $5,847,000 after buying an additional 897 shares during the period. Spire Wealth Management boosted its stake in shares of Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after buying an additional 683 shares during the last quarter. Ascent Group LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $371,000. Finally, Advisory Alpha LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter worth $265,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The stock was 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 of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $478.28 on Friday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. The stock’s fifty day moving average is $494.84 and its 200 day moving average is $501.95. The stock has a market cap of $45.09 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.06 and a beta of 1.26. 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 earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $8.72 EPS. Ameriprise Financial’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler raised their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Evercore ISI dropped their price target 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, BMO Capital Markets initiated coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.