Simplicity Wealth LLC Has $1.09 Million Stock Position in Ameriprise Financial, Inc. $AMP

Simplicity Wealth LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 109.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,043 shares of the financial services provider’s stock after acquiring an additional 1,067 shares during the period. Simplicity Wealth LLC’s holdings in Ameriprise Financial were worth $1,090,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Capital Management LLC boosted its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at $29,000. WPG Advisers LLC bought a new stake in Ameriprise Financial during the first quarter valued at $33,000. Opal Wealth Advisors LLC bought a new stake in Ameriprise Financial during the first quarter valued at $36,000. Finally, TCTC Holdings LLC grew its holdings in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 49 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMP. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $535.14.

Ameriprise Financial Trading Up 0.4%

Shares of Ameriprise Financial stock opened at $493.88 on Tuesday. The stock has a market capitalization of $46.56 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The stock has a 50 day moving average price of $502.45 and a two-hundred day moving average price of $502.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

Ameriprise Financial Company Profile

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.