Gateway Advisory LLC Buys 38 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Gateway Advisory LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,059 shares of the financial services provider’s stock after purchasing an additional 38 shares during the quarter. Gateway Advisory LLC’s holdings in Ameriprise Financial were worth $880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Empirical Finance LLC boosted its stake in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Ameriprise Financial in the fourth quarter worth about $775,000. State Board of Administration of Florida Retirement System grew its stake in shares of Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. TD Asset Management Inc increased its position in shares of Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after purchasing an additional 358,780 shares during the last quarter. Finally, BDF Gestion bought a new position in shares of Ameriprise Financial in the 2nd quarter worth approximately $2,836,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $461.93 on Tuesday. The business has a 50-day moving average price of $430.48 and a 200-day moving average price of $429.03. The firm has a market cap of $45.88 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82. 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 data 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. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $7.44 EPS. The company’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price 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. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley decreased their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. UBS Group cut their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $464.33.

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.