Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Cetera Advisors LLC

Cetera Advisors LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,900 shares of the financial services provider’s stock after purchasing an additional 3,895 shares during the period. Cetera Advisors LLC’s holdings in Ameriprise Financial were worth $4,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new stake in Ameriprise Financial in the first quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $28,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $32,000. Annapolis Financial Services LLC lifted its position in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMP shares. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods reduced their price target 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. Finally, Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Trading Down 3.8 %

AMP stock traded down $15.75 during midday trading on Friday, hitting $402.61. The stock had a trading volume of 679,597 shares, compared to its average volume of 551,653. The firm has a market cap of $39.99 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $449.94. The company’s 50-day moving average price is $430.64 and its 200 day moving average price is $419.58.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. 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 earned $7.44 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.47%. Ameriprise Financial’s payout ratio is currently 20.15%.

About Ameriprise Financial

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.