Private Advisor Group LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,801 shares of the financial services provider's stock after purchasing an additional 381 shares during the period. Private Advisor Group LLC's holdings in Ameriprise Financial were worth $2,092,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in AMP. CAPROCK Group Inc. increased its position in shares of Ameriprise Financial by 2.6% during the first quarter. CAPROCK Group Inc. now owns 1,400 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 35 shares in the last quarter. Peoples Financial Services CORP. increased its position in shares of Ameriprise Financial by 4.7% during the first quarter. Peoples Financial Services CORP. now owns 895 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 40 shares in the last quarter. National Asset Management Inc. increased its position in shares of Ameriprise Financial by 1.9% during the first quarter. National Asset Management Inc. now owns 2,276 shares of the financial services provider's stock valued at $685,000 after acquiring an additional 42 shares in the last quarter. Buckingham Strategic Wealth LLC increased its position in shares of Ameriprise Financial by 1.8% during the first quarter. Buckingham Strategic Wealth LLC now owns 2,529 shares of the financial services provider's stock valued at $760,000 after acquiring an additional 44 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Ameriprise Financial by 2.5% during the fourth quarter. Synovus Financial Corp now owns 1,905 shares of the financial services provider's stock valued at $572,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 82.92% of the company's stock.
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Ameriprise Financial Trading Up 2.7 %
Shares of Ameriprise Financial stock opened at $259.43 on Thursday. The company's fifty day simple moving average is $271.31 and its 200-day simple moving average is $269.25. The stock has a market capitalization of $28.06 billion, a PE ratio of 9.34, a P/E/G ratio of 0.76 and a beta of 1.48. Ameriprise Financial, Inc. has a 1-year low of $219.99 and a 1-year high of $332.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.90 and a quick ratio of 0.90.
Ameriprise Financial (NYSE:AMP – Get Rating) last released its earnings results on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts' consensus estimates of $5.73 by $0.08. Ameriprise Financial had a net
margin of 23.49% and a return on equity of 53.86%. The company had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same quarter in the previous year, the company earned $5.27 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 23.97 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, August 5th. Ameriprise Financial's dividend payout ratio (DPR) is 18.01%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their price target on shares of Ameriprise Financial from $364.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, July 6th. Bank of America started coverage on shares of Ameriprise Financial in a report on Wednesday, September 7th. They issued a "buy" rating and a $336.00 target price on the stock. Piper Sandler dropped their target price on shares of Ameriprise Financial from $231.00 to $220.00 and set an "underweight" rating on the stock in a report on Friday, July 15th. The Goldman Sachs Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $325.00 to $270.00 in a report on Friday, June 24th. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $316.70.
Insider Activity at Ameriprise Financial
In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Friday, August 26th. The shares were sold at an average price of $277.01, for a total transaction of $277,010.00. Following the transaction, the director now owns 16,500 shares in the company, valued at approximately $4,570,665. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.
About Ameriprise Financial
(Get Rating)
Ameriprise Financial, Inc, through 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.
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