Old North State Trust LLC Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Old North State Trust LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,345 shares of the financial services provider’s stock after purchasing an additional 79 shares during the period. Old North State Trust LLC’s holdings in Ameriprise Financial were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. grew its holdings in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC grew its stake in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMP. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. UBS Group reduced their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $485.00 to $476.00 in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Up 0.2 %

AMP stock opened at $468.62 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $434.13 and a two-hundred day moving average of $430.50. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $471.57. The company has a market cap of $46.55 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.26%. Ameriprise Financial’s dividend payout ratio (DPR) is 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.