Peddock Capital Advisors LLC Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Peddock Capital Advisors LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,592 shares of the financial services provider’s stock after acquiring an additional 81 shares during the period. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial were worth $1,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Ameriprise Financial by 2.5% during the third quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the financial services provider’s stock worth $10,332,000 after purchasing an additional 760 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Ameriprise Financial by 6.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,099 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Ameriprise Financial by 3.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,143 shares of the financial services provider’s stock worth $707,000 after acquiring an additional 81 shares during the period. Mackenzie Financial Corp grew its position in Ameriprise Financial by 3.3% in the third quarter. Mackenzie Financial Corp now owns 10,052 shares of the financial services provider’s stock valued at $3,187,000 after acquiring an additional 319 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Ameriprise Financial by 10.3% during the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 812 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ameriprise Financial news, EVP Gerard P. Smyth sold 4,440 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $407.92, for a total transaction of $1,811,164.80. Following the completion of the transaction, the executive vice president now directly owns 3,787 shares of the company’s stock, valued at approximately $1,544,793.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,980 shares of company stock valued at $23,053,480. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. UBS Group upped their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Evercore ISI raised their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Argus increased their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Stock Up 0.5 %

NYSE AMP traded up $2.13 on Wednesday, hitting $427.00. 140,790 shares of the stock traded hands, compared to its average volume of 491,855. The company has a market capitalization of $42.78 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The stock has a 50-day moving average of $420.85 and a 200 day moving average of $386.14. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a twelve month low of $286.58 and a twelve month high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. Ameriprise Financial’s dividend payout ratio is 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.