J. W. Coons Advisors LLC Boosts Stock Position in Ameriprise Financial, Inc. $AMP

J. W. Coons Advisors LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 130.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,714 shares of the financial services provider’s stock after acquiring an additional 2,105 shares during the period. J. W. Coons Advisors LLC’s holdings in Ameriprise Financial were worth $1,982,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ameriprise Financial by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after acquiring an additional 266,631 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $469,334,000. Finally, Royal Bank of Canada lifted its position in shares of Ameriprise Financial by 1.1% during the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock worth $354,870,000 after acquiring an additional 7,840 shares in the last quarter. Hedge funds and other 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 AMP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective 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. BMO Capital Markets started coverage on Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Raymond James Financial increased their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $530.63.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,929 shares of the business’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.0%

NYSE AMP opened at $452.58 on Tuesday. 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 $42.67 billion, a PE ratio of 14.08, a PEG ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The business’s 50-day moving average is $489.51 and its 200 day moving average is $503.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the firm posted $9.02 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s payout ratio is currently 17.55%.

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.