Ritholtz Wealth Management Has $984,000 Holdings in Ameriprise Financial, Inc. $AMP

Ritholtz Wealth Management raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,843 shares of the financial services provider’s stock after buying an additional 82 shares during the quarter. Ritholtz Wealth Management’s holdings in Ameriprise Financial were worth $984,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $29,000. TD Capital Management LLC lifted its stake in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. WPG Advisers LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $33,000. Hager Investment Management Services LLC lifted its stake in Ameriprise Financial by 114.3% in the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after buying an additional 40 shares during the period. Finally, TCTC Holdings LLC lifted its stake in Ameriprise Financial by 100.0% in the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. Evercore ISI lowered their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley lowered their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada upped their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $539.50.

Ameriprise Financial Trading Up 0.5%

Shares of Ameriprise Financial stock opened at $470.03 on Friday. The stock has a fifty day simple moving average of $497.70 and a 200 day simple moving average of $501.28. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a market capitalization of $44.31 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last announced its quarterly 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. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company posted $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s 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 completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% 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.