Ameriprise Financial, Inc. $AMP Stake Raised by NorthRock Partners LLC

NorthRock Partners LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,955 shares of the financial services provider’s stock after buying an additional 897 shares during the period. NorthRock Partners LLC’s holdings in Ameriprise Financial were worth $5,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont grew its holdings in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 19 shares in the last quarter. Plancorp LLC grew its holdings in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 20 shares in the last quarter. Old Port Advisors grew its holdings in shares of Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 20 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 21 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Ameriprise Financial by 3.0% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday. Piper Sandler upped their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Raymond James Financial boosted their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Stock Down 2.4%

Shares of AMP opened at $479.75 on Monday. The company has a 50-day simple moving average of $500.39 and a 200-day simple moving average of $501.72. The firm has a market capitalization of $45.23 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.08 and a beta of 1.26. 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, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business earned $8.72 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial 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.