B. Riley Wealth Advisors Inc. Invests $884,000 in Ameriprise Financial, Inc. $AMP

B. Riley Wealth Advisors Inc. bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,656 shares of the financial services provider’s stock, valued at approximately $884,000.

Other large investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 22 shares during the last quarter. TD Capital Management LLC lifted its position in Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at about $29,000. Salomon & Ludwin LLC boosted its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after buying an additional 30 shares during the period. Finally, Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the second quarter valued at about $32,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AMP shares. Royal Bank Of Canada dropped their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Wednesday, December 10th. BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. Argus reduced their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Evercore ISI dropped their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $533.22.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $491.52 on Tuesday. The firm has a market cap of $45.67 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.32 and a beta of 1.26. The stock’s fifty day simple moving average is $468.53 and its 200 day simple moving average is $496.98. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, beating the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 20.12% and a return on equity of 64.97%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter last year, the company posted $9.02 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

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.