Crestwood Advisors Group LLC Purchases New Stake in Ameriprise Financial, Inc. $AMP

Crestwood Advisors Group LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 407 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other large investors also recently made changes to their positions in AMP. Brighton Jones LLC raised its stake in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Ameriprise Financial by 5.0% during the first quarter. Concurrent Investment Advisors LLC now owns 668 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 32 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Ameriprise Financial by 27.9% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 109 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of Ameriprise Financial by 25.0% in the first quarter. Stratos Wealth Partners LTD. now owns 1,774 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 355 shares during the period. Finally, Leavell Investment Management Inc. lifted its stake in shares of Ameriprise Financial by 6.4% in the first quarter. Leavell Investment Management Inc. now owns 844 shares of the financial services provider’s stock worth $409,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the business’s 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 sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction 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 completion of the transaction, 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 is available in the SEC filing. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Royal Bank Of Canada cut their target price on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Evercore ISI lowered their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. BMO Capital Markets started coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $530.63.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $461.68 on Friday. The firm’s 50-day moving average is $484.77 and its 200-day moving average is $502.61. The company has a market cap of $42.89 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the business earned $9.02 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.55%.

Ameriprise Financial Company 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.