Mutual of America Capital Management LLC Buys 1,715 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Mutual of America Capital Management LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,234 shares of the financial services provider’s stock after purchasing an additional 1,715 shares during the period. Mutual of America Capital Management LLC’s holdings in Ameriprise Financial were worth $12,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Janney Montgomery Scott LLC boosted its holdings in shares of Ameriprise Financial by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,658 shares of the financial services provider’s stock valued at $6,328,000 after purchasing an additional 765 shares during the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of Ameriprise Financial by 15.4% during the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 227 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Ameriprise Financial by 21.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,601 shares of the financial services provider’s stock valued at $1,368,000 after purchasing an additional 639 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Ameriprise Financial by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock valued at $1,622,000 after purchasing an additional 110 shares during the last quarter. Finally, WBI Investments LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at about $1,202,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group lowered their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $452.36 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $453.99. The firm has a market capitalization of $44.93 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company’s 50-day moving average is $429.17 and its 200 day moving average is $427.73.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $7.44 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

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.