Wealthfront Advisers LLC Boosts Position in Ameriprise Financial, Inc. $AMP

Wealthfront Advisers LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,466 shares of the financial services provider’s stock after buying an additional 1,522 shares during the quarter. Wealthfront Advisers LLC’s holdings in Ameriprise Financial were worth $7,584,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMP. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial during the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial during the 4th quarter worth approximately $32,000. WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $36,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $485.00 to $452.00 and set an “underweight” rating on the stock in a research note on Friday, April 10th. Finally, BMO Capital Markets raised their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $540.33.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $475.42 on Thursday. The stock has a market capitalization of $43.35 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.17 and a beta of 1.27. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The firm’s 50 day simple moving average is $454.73 and its 200-day simple moving average is $474.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company earned $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 41.24 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.4%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is 16.91%.

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.