19,206 Ameriprise Financial, Inc. $AMP Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 537.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,780 shares of the financial services provider’s stock after purchasing an additional 19,206 shares during the quarter. Wedmont Private Capital’s holdings in Ameriprise Financial were worth $11,216,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Lawood & Co. bought a new stake in Ameriprise Financial during the third quarter worth about $11,636,000. Douglas Lane & Associates LLC bought a new position in shares of Ameriprise Financial in the third quarter valued at approximately $575,767,000. Dakota Community Bank & Trust NA boosted its holdings in shares of Ameriprise Financial by 413.9% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 5,026 shares of the financial services provider’s stock worth $2,475,000 after acquiring an additional 4,048 shares in the last quarter. Graves Light Lenhart Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 11,224.0% in the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 50,958 shares of the financial services provider’s stock worth $25,089,000 after acquiring an additional 50,508 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC bought a new stake in Ameriprise Financial during the 3rd quarter worth approximately $6,530,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Berman sold 11,012 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% 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 the SEC website. Also, EVP Deirdre Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock valued at $16,316,497 in the last three months. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. BMO Capital Markets reduced their price objective on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating on the stock in a research note on Tuesday. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley cut their price target on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a report on Friday. Finally, Zacks Research downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $558.00.

Ameriprise Financial Trading Up 0.3%

AMP stock traded up $1.51 during trading on Friday, hitting $500.59. The company had a trading volume of 155,025 shares, compared to its average volume of 642,080. The firm has a 50-day moving average price of $540.34 and a 200-day moving average price of $495.47. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month 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 stock has a market cap of $45.00 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.01 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $9.11 EPS. As a group, analysts predict that Ameriprise Financial, Inc. will post 46.14 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The company provides financial planning, investment advice, wealth management, retirement planning and insurance solutions to individuals, families, business owners and institutional clients.

Ameriprise serves clients primarily through a network of financial advisors and offers products and services that include brokerage and advisory accounts, mutual funds and other investments, retirement accounts, annuities, life and long-term-care insurance, banking products and personalized financial planning.