Neville Rodie & Shaw Inc. Acquires Shares of 2,608 Ameriprise Financial, Inc. $AMP

Neville Rodie & Shaw Inc. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,608 shares of the financial services provider’s stock, valued at approximately $1,281,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Ameriprise Financial during the first quarter valued at about $606,000. Horizon Investments LLC increased its position in shares of Ameriprise Financial by 2.6% during the first quarter. Horizon Investments LLC now owns 1,644 shares of the financial services provider’s stock worth $793,000 after acquiring an additional 42 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Ameriprise Financial by 10.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 111 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Ameriprise Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 242,769 shares of the financial services provider’s stock valued at $117,527,000 after acquiring an additional 30,492 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 1.0%

Shares of NYSE:AMP opened at $493.79 on Monday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a market capitalization of $45.88 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.26. The business has a fifty day moving average price of $468.57 and a two-hundred day moving average price of $497.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.02 EPS. 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 announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Argus lowered their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Wednesday. Finally, BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $533.22.

About Ameriprise Financial

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.