BLB&B Advisors LLC Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

BLB&B Advisors LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 969 shares of the financial services provider’s stock after purchasing an additional 46 shares during the period. BLB&B Advisors LLC’s holdings in Ameriprise Financial were worth $455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. Ledyard National Bank grew its holdings in Ameriprise Financial by 3.2% in the third quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 23 shares during the period. Heartland Bank & Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 24 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares during the period. Signaturefd LLC increased its holdings in shares of Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Ameriprise Financial by 0.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 26 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $520.47 on Thursday. The firm has a fifty day simple moving average of $464.19 and a 200-day simple moving average of $439.06. The company has a market capitalization of $51.70 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company posted $7.44 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMP shares. Royal Bank of Canada boosted their price target on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $480.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

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.