Northwestern Mutual Wealth Management Co. Has $3.71 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,674 shares of the financial services provider’s stock after buying an additional 79 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ameriprise Financial were worth $3,706,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Ameriprise Financial by 9.4% during the second quarter. NewEdge Advisors LLC now owns 9,166 shares of the financial services provider’s stock worth $3,916,000 after acquiring an additional 789 shares during the last quarter. Creative Planning lifted its holdings in Ameriprise Financial by 2.2% during the 2nd quarter. Creative Planning now owns 22,223 shares of the financial services provider’s stock worth $9,493,000 after purchasing an additional 487 shares during the last quarter. Copperwynd Financial LLC boosted its stake in Ameriprise Financial by 5.1% in the 2nd quarter. Copperwynd Financial LLC now owns 2,427 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 118 shares during the period. Driehaus Capital Management LLC grew its holdings in Ameriprise Financial by 28.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 597 shares of the financial services provider’s stock valued at $255,000 after buying an additional 131 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in Ameriprise Financial by 559.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 8,569 shares of the financial services provider’s stock worth $3,661,000 after buying an additional 7,269 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. UBS Group cut their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Down 0.2 %

NYSE AMP opened at $479.54 on Friday. The business has a fifty day moving average price of $438.05 and a two-hundred day moving average price of $431.95. The stock has a market capitalization of $47.63 billion, a PE ratio of 16.32, a PEG ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $482.23. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm earned $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.