Sanctuary Advisors LLC Acquires Shares of 15,626 Ameriprise Financial, Inc. (NYSE:AMP)

Sanctuary Advisors LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 15,626 shares of the financial services provider’s stock, valued at approximately $6,407,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AMP. Campbell & CO Investment Adviser LLC grew its position in Ameriprise Financial by 65.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 2,168 shares of the financial services provider’s stock valued at $823,000 after buying an additional 854 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Ameriprise Financial by 199.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,535 shares of the financial services provider’s stock valued at $5,141,000 after acquiring an additional 9,009 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Ameriprise Financial by 2.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,022 shares of the financial services provider’s stock valued at $1,908,000 after acquiring an additional 121 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Ameriprise Financial by 29.7% during the fourth quarter. Cetera Advisor Networks LLC now owns 16,259 shares of the financial services provider’s stock worth $6,176,000 after acquiring an additional 3,724 shares during the period. Finally, Cibc World Markets Corp raised its holdings in Ameriprise Financial by 42.6% during the fourth quarter. Cibc World Markets Corp now owns 23,508 shares of the financial services provider’s stock worth $8,929,000 after purchasing an additional 7,026 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $486.94 on Friday. 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’s 50-day moving average price is $439.00 and its 200 day moving average price is $432.38. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $490.23. The stock has a market cap of $48.37 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (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 the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.44 EPS. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMP. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley reduced 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 shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods cut 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 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $463.00.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.