Fidelis Capital Partners LLC Acquires 35 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fidelis Capital Partners LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 678 shares of the financial services provider’s stock after buying an additional 35 shares during the period. Fidelis Capital Partners LLC’s holdings in Ameriprise Financial were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Epoch Investment Partners Inc. lifted its stake in shares of Ameriprise Financial by 3.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after purchasing an additional 17,312 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Ameriprise Financial by 33.9% in the second quarter. 1832 Asset Management L.P. now owns 6,148 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 1,557 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Ameriprise Financial during the second quarter valued at about $732,000. ProShare Advisors LLC boosted its holdings in shares of Ameriprise Financial by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 20,180 shares of the financial services provider’s stock valued at $8,621,000 after buying an additional 768 shares in the last quarter. Finally, Hancock Whitney Corp grew its position in shares of Ameriprise Financial by 26.4% in the 2nd quarter. Hancock Whitney Corp now owns 2,589 shares of the financial services provider’s stock worth $1,106,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $461.93 on Tuesday. The stock has a market cap of $45.88 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $465.82. The business has a 50-day simple moving average of $430.48 and a 200-day simple moving average of $429.03. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $7.44 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.28%. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $464.33.

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.