Brown Financial Advisors Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Brown Financial Advisors acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,688 shares of the financial services provider’s stock, valued at approximately $721,000.

Other institutional investors have also recently made changes to their positions in the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price 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. UBS Group decreased their target price 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 upped their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $463.00.

Ameriprise Financial Price Performance

AMP opened at $473.26 on Wednesday. The stock has a fifty day simple moving average of $436.17 and a two-hundred day simple moving average of $431.27. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market cap of $47.01 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $476.18.

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 analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm posted $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.25%. Ameriprise Financial’s dividend 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.