Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Harfst & Associates Inc.

Harfst & Associates Inc. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 27.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,577 shares of the financial services provider’s stock after buying an additional 982 shares during the quarter. Harfst & Associates Inc.’s holdings in Ameriprise Financial were worth $2,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AMP. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares in the last quarter. Swedbank AB bought a new stake in shares of Ameriprise Financial in the 1st quarter worth $108,938,000. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial in the third quarter valued at $98,742,000. AGF Management Ltd. boosted its stake in Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.3 %

Shares of Ameriprise Financial stock traded up $1.75 during midday trading on Friday, hitting $523.16. The company’s stock had a trading volume of 480,121 shares, compared to its average volume of 471,931. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $524.89. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $51.96 billion, a P/E ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. The stock has a 50-day simple moving average of $457.59 and a 200-day simple moving average of $437.20.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.44 EPS. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMP shares. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. UBS Group raised their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group increased their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $480.44.

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.