Ameriprise Financial, Inc. (NYSE:AMP) Position Boosted by New Hampshire Trust

New Hampshire Trust raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,794 shares of the financial services provider’s stock after acquiring an additional 76 shares during the quarter. New Hampshire Trust’s holdings in Ameriprise Financial were worth $2,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. OLD Mission Capital LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $25,000. Dark Forest Capital Management LP acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $27,000. Financial Freedom LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $27,000. Delta Asset Management LLC TN acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $31,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, CEO James M. Cracchiolo sold 9,616 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $354.00, for a total transaction of $3,404,064.00. Following the sale, the chief executive officer now directly owns 157,103 shares in the company, valued at $55,614,462. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,042 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $351.55, for a total value of $4,584,915.10. Following the sale, the chief financial officer now directly owns 8,048 shares in the company, valued at $2,829,274.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James M. Cracchiolo sold 9,616 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $354.00, for a total value of $3,404,064.00. Following the completion of the sale, the chief executive officer now owns 157,103 shares in the company, valued at $55,614,462. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Ameriprise Financial from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. StockNews.com assumed coverage on Ameriprise Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $361.00.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $2.68 during trading hours on Friday, reaching $347.12. 1,087,194 shares of the company’s stock were exchanged, compared to its average volume of 547,502. Ameriprise Financial, Inc. has a fifty-two week low of $249.35 and a fifty-two week high of $358.02. The stock has a market capitalization of $35.62 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.66 and a beta of 1.48. The business has a fifty day moving average price of $343.08 and a 200-day moving average price of $320.90. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.43.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $7.44 EPS for the quarter, topping analysts’ consensus estimates of $7.29 by $0.15. Ameriprise Financial had a return on equity of 82.23% and a net margin of 15.94%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the company earned $5.81 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 29.94 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.10. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.56%. Ameriprise Financial’s payout ratio is 25.36%.

Ameriprise Financial Profile

Ameriprise Financial, Inc, through 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.