Police & Firemen s Retirement System of New Jersey Buys 510 Shares of Ameriprise Financial, Inc. $AMP

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,513 shares of the financial services provider’s stock after purchasing an additional 510 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ameriprise Financial were worth $7,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 19 shares during the last quarter. Plancorp LLC raised its holdings in Ameriprise Financial by 4.8% in the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 20 shares during the period. Old Port Advisors lifted its position in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 20 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Ameriprise Financial by 1.6% during the first 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. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank Of Canada dropped their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. 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 report on Wednesday, October 1st. 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 report on Thursday, October 9th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Finally, Argus lowered their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $533.22.

Ameriprise Financial Trading Down 2.4%

Ameriprise Financial stock opened at $459.17 on Friday. The business has a 50 day moving average price of $480.91 and a two-hundred day moving average price of $502.44. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market cap of $42.66 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $9.02 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction 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. The trade was a 36.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The SEC filing for this sale provides additional information. 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.