Janney Montgomery Scott LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 95.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,999 shares of the financial services provider’s stock after acquiring an additional 8,310 shares during the period. Janney Montgomery Scott LLC’s holdings in Ameriprise Financial were worth $2,551,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bartlett & Co. LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $25,000. Balentine LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $25,000. CX Institutional lifted its position in shares of Ameriprise Financial by 274.3% during the first quarter. CX Institutional now owns 262 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 192 shares in the last quarter. TRUE Private Wealth Advisors lifted its position in shares of Ameriprise Financial by 56.8% during the second quarter. TRUE Private Wealth Advisors now owns 207 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 75 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Ameriprise Financial by 100.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 336 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 82.87% of the company’s stock.

Several research firms have recently weighed in on AMP. ValuEngine cut shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, May 7th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group upped their price target on shares of Ameriprise Financial from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Goldman Sachs Group raised shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $125.00 to $185.00 in a report on Thursday, June 25th. Finally, TheStreet raised shares of Ameriprise Financial from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $167.90.

AMP opened at $153.63 on Friday. The stock has a market cap of $18.80 billion, a PE ratio of 8.03 and a beta of 1.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.56. Ameriprise Financial, Inc. has a 52 week low of $80.01 and a 52 week high of $180.85. The business’s fifty day simple moving average is $149.89 and its 200 day simple moving average is $139.41.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 29th. The financial services provider reported $2.64 EPS for the quarter, missing the Zacks’ consensus estimate of $2.94 by ($0.30). The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.82 billion. Ameriprise Financial had a net margin of 20.32% and a return on equity of 34.99%. The firm’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.06 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 16.3 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 2.71%. Ameriprise Financial’s dividend payout ratio is presently 25.84%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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