Armstrong Fleming & Moore Inc Invests $534,000 in Ameriprise Financial, Inc. $AMP

Armstrong Fleming & Moore Inc purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the financial services provider’s stock, valued at approximately $534,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the 1st quarter valued at $29,000. TD Capital Management LLC increased its stake in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the period. WPG Advisers LLC bought a new position in shares of Ameriprise Financial in the first quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter worth about $36,000. Finally, Hager Investment Management Services LLC boosted its holdings in Ameriprise Financial by 114.3% during the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $490.09 on Thursday. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $501.37 and a 200-day moving average of $502.07. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $8.72 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is 19.91%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Piper Sandler boosted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $535.14.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

About Ameriprise Financial

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.