Hartford Investment Management Co. Has $2.90 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Hartford Investment Management Co. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,179 shares of the financial services provider’s stock after selling 204 shares during the quarter. Hartford Investment Management Co.’s holdings in Ameriprise Financial were worth $2,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Group LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC increased its stake in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMP. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Trading Up 0.2 %

NYSE AMP opened at $520.47 on Thursday. The stock has a market capitalization of $51.70 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35. The business’s fifty day moving average is $464.19 and its 200-day moving average is $439.06. 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, Inc. has a one year low of $306.63 and a one year high of $524.89.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

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.