Strathmore Capital Advisors Inc. Takes Position in Ameriprise Financial, Inc. $AMP

Strathmore Capital Advisors Inc. purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,336 shares of the financial services provider’s stock, valued at approximately $706,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased 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 valued at $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC lifted its holdings in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new stake in Ameriprise Financial during the 2nd quarter valued at $313,000. Finally, Gabelli Funds LLC boosted its position in Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after acquiring an additional 2,922 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock valued at $16,316,497 over the last three months. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

AMP opened at $560.71 on Thursday. The firm’s 50-day moving average price is $513.75 and its 200-day moving average price is $481.33. The company has a market cap of $50.41 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the firm earned $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is presently 16.40%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMP. Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

About Ameriprise Financial

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.