B. Metzler seel. Sohn & Co. AG bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,454 shares of the financial services provider's stock, valued at approximately $10,301,000.
Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $742,438,000. AQR Capital Management LLC boosted its stake in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after buying an additional 496,319 shares in the last quarter. First Trust Advisors LP grew its position in Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider's stock valued at $406,216,000 after acquiring an additional 381,754 shares during the last quarter. Qube Research & Technologies Ltd grew its position in Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock valued at $231,805,000 after acquiring an additional 275,659 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $119,627,000. 83.95% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $555.33.
View Our Latest Analysis on Ameriprise Financial
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock opened at $547.54 on Friday. The firm has a market cap of $49.22 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company's fifty day simple moving average is $515.71 and its two-hundred day simple moving average is $481.47.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.11 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.
Ameriprise Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.40%.
Insiders Place Their Bets
In related news, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Jerryl Williams sold 8,210 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,988 shares of company stock valued at $16,316,497 in the last 90 days. 0.60% of the stock is owned by corporate insiders.
About Ameriprise Financial
(
Free Report)
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
See Also
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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