Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 70.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,085 shares of the financial services provider’s stock after acquiring an additional 450 shares during the period. Mcrae Capital Management Inc.’s holdings in Ameriprise Financial were worth $510,000 as of its most recent SEC filing.

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

Insider Activity

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.1 %

NYSE:AMP opened at $504.48 on Friday. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $307.57 and a 1 year high of $524.89. The business has a fifty day moving average of $467.23 and a 200-day moving average of $440.06.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMP shares. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $482.11.

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.