Midwest Trust Co Takes Position in Ameriprise Financial, Inc. $AMP

Midwest Trust Co acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 108,519 shares of the financial services provider’s stock, valued at approximately $57,920,000.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC boosted its position in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC raised its holdings in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. TD Capital Management LLC lifted its stake in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth about $29,000. Finally, WPG Advisers LLC acquired a new position in shares of Ameriprise Financial in the first quarter worth about $33,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.9%

Ameriprise Financial stock opened at $461.68 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $42.89 billion, a PE ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.28. The firm’s 50 day moving average price is $484.77 and its two-hundred day moving average price is $502.86.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the company posted $9.02 EPS. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be paid a $1.60 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is 17.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMP shares. BMO Capital Markets began coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target on the stock. Royal Bank Of Canada lowered their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $530.63.

Insider Activity

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.

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.