Foster & Motley Inc. Lowers Holdings in Ameriprise Financial, Inc. $AMP

Foster & Motley Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,184 shares of the financial services provider’s stock after selling 2,148 shares during the quarter. Foster & Motley Inc.’s holdings in Ameriprise Financial were worth $7,883,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in Ameriprise Financial by 70.7% in the second quarter. Meeder Asset Management Inc. now owns 44,189 shares of the financial services provider’s stock worth $20,272,000 after acquiring an additional 18,295 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of Ameriprise Financial by 9.4% in the 2nd quarter. Perigon Wealth Management LLC now owns 8,517 shares of the financial services provider’s stock valued at $3,907,000 after purchasing an additional 729 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $1,426,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ameriprise Financial by 5.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,197 shares of the financial services provider’s stock worth $100,100,000 after purchasing an additional 10,672 shares during the period. Finally, Beverly Hills Private Wealth LLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $1,617,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Trading Up 0.2%

NYSE:AMP opened at $562.89 on Wednesday. The stock has a market capitalization of $50.60 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.77 and a beta of 1.14. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $511.57 and a 200 day moving average of $481.04.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $9.11 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Insiders Place Their Bets

In related news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.