Hager Investment Management Services LLC Acquires 40 Shares of Ameriprise Financial, Inc. $AMP

Hager Investment Management Services LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 114.3% in the 2nd quarter, Holdings Channel reports. The fund owned 75 shares of the financial services provider’s stock after buying an additional 40 shares during the quarter. Hager Investment Management Services LLC’s holdings in Ameriprise Financial were worth $40,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont grew its holdings in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares in the last quarter. Plancorp LLC grew its holdings in shares of Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares in the last quarter. Old Port Advisors grew its holdings in shares of Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 21 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 21 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 1.5%

Shares of AMP opened at $490.09 on Thursday. The firm has a market capitalization of $46.20 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.12 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $501.37 and a 200-day moving average price of $502.07.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The firm 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%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $8.72 earnings per share. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday. Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $535.14.

Insider Activity

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated 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 completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.