SpiderRock Advisors LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

SpiderRock Advisors LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 714 shares of the financial services provider’s stock, valued at approximately $303,000.

Several other large investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $28,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth about $32,000. Annapolis Financial Services LLC lifted its stake in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $34,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

Ameriprise Financial stock traded down $2.85 on Friday, hitting $431.15. 75,927 shares of the stock traded hands, compared to its average volume of 475,353. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market cap of $42.82 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. The business’s fifty day simple moving average is $430.18 and its 200 day simple moving average is $411.90. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $446.32.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.25 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.37%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMP shares. Royal Bank of Canada boosted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group upped their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $456.22.

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.