Atria Wealth Solutions Inc. Has $1.88 Million Stock Position in Ameriprise Financial, Inc. $AMP

Atria Wealth Solutions Inc. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,523 shares of the financial services provider’s stock after acquiring an additional 332 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Ameriprise Financial were worth $1,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMP. Trust Co. of Vermont raised its stake 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 worth $1,618,000 after purchasing an additional 19 shares in the last quarter. Plancorp LLC raised its stake 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 worth $213,000 after purchasing an additional 20 shares in the last quarter. Old Port Advisors raised its stake in Ameriprise Financial by 1.5% in 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 during the period. Pinnacle Associates Ltd. raised its stake in Ameriprise Financial by 1.6% in 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 during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in Ameriprise Financial by 3.0% in 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 during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction 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 sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AMP. Evercore ISI dropped their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Morgan Stanley dropped their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Stock Down 1.0%

AMP stock opened at $481.48 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.09 and a beta of 1.26. The business’s fifty day moving average price is $499.00 and its two-hundred day moving average price is $501.48. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $8.72 EPS. On average, equities analysts anticipate 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 dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

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.