Ameriprise Financial, Inc. $AMP Stock Position Raised by Mairs & Power Inc.

Mairs & Power Inc. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 23.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,706 shares of the financial services provider’s stock after purchasing an additional 6,698 shares during the period. Mairs & Power Inc.’s holdings in Ameriprise Financial were worth $17,049,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Winnow Wealth LLC acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth about $32,000. WFA of San Diego LLC purchased a new stake in Ameriprise Financial during the second quarter valued at about $36,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Ameriprise Financial by 76.8% in the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.8%

AMP opened at $438.44 on Tuesday. The company has a market capitalization of $39.98 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The business has a 50-day moving average of $490.18 and a 200-day moving average of $484.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.54 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 17.60%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMP shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $555.67.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.