Rehmann Capital Advisory Group Acquires 42 Shares of Ameriprise Financial, Inc. $AMP

Rehmann Capital Advisory Group boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 575 shares of the financial services provider’s stock after acquiring an additional 42 shares during the period. Rehmann Capital Advisory Group’s holdings in Ameriprise Financial were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its holdings in Ameriprise Financial by 12.7% in the second quarter. D.A. Davidson & CO. now owns 4,981 shares of the financial services provider’s stock worth $2,659,000 after acquiring an additional 560 shares in the last quarter. Whittier Trust Co. boosted its holdings in Ameriprise Financial by 7.1% in the second quarter. Whittier Trust Co. now owns 861 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 57 shares in the last quarter. Aurora Investment Counsel boosted its holdings in Ameriprise Financial by 1.0% in the second quarter. Aurora Investment Counsel now owns 5,904 shares of the financial services provider’s stock worth $3,151,000 after acquiring an additional 56 shares in the last quarter. Journey Advisory Group LLC boosted its holdings in Ameriprise Financial by 1.6% in the second quarter. Journey Advisory Group LLC now owns 12,941 shares of the financial services provider’s stock worth $6,907,000 after acquiring an additional 210 shares in the last quarter. Finally, Schnieders Capital Management LLC bought a new position in Ameriprise Financial in the second quarter worth approximately $313,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $478.90 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.07 and a beta of 1.26. The stock has a 50 day moving average of $494.36 and a 200 day moving average of $502.31. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a report on Friday. Evercore ISI dropped their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Piper Sandler raised their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $539.50.

Insider Buying and Selling

In related news, 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 transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

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.