Mutual of America Capital Management LLC Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mutual of America Capital Management LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% in the second quarter, HoldingsChannel reports. The fund owned 30,234 shares of the financial services provider’s stock after acquiring an additional 1,715 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ameriprise Financial were worth $12,916,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMP. Janney Montgomery Scott LLC raised its position in shares of Ameriprise Financial by 4.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,658 shares of the financial services provider’s stock worth $6,328,000 after acquiring an additional 765 shares during the period. TrinityPoint Wealth LLC raised its position in shares of Ameriprise Financial by 15.4% in the fourth quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 227 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Ameriprise Financial by 21.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,601 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 639 shares during the period. D.A. Davidson & CO. raised its position in shares of Ameriprise Financial by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock worth $1,622,000 after acquiring an additional 110 shares during the period. Finally, WBI Investments LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth about $1,202,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMP shares. Keefe, Bruyette & Woods reduced 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 research report on Tuesday, July 30th. Morgan Stanley reduced 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 research report on Monday, July 29th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, UBS Group reduced their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have issued 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 an average price target of $464.33.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 1.6 %

Shares of NYSE AMP opened at $452.36 on Wednesday. The company has a 50-day moving average of $429.17 and a 200 day moving average of $427.73. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $453.99. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $44.93 billion, a PE ratio of 15.40, a P/E/G ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $7.44 EPS. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s payout ratio is currently 20.15%.

Ameriprise Financial 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.