2,282 Shares in Ameriprise Financial, Inc. $AMP Acquired by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services acquired 2,282 shares of Ameriprise Financial worth approximately $1.23 million, while institutional investors collectively own 83.95% of AMP.
• Ameriprise reported better-than-expected quarterly results, with EPS of $11.07 versus the $10.81 consensus and revenue of $4.90 billion, up 11.6% year over year.
• The company declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a 1.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $555.33.

Diversify Advisory Services LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,282 shares of the financial services provider's stock, valued at approximately $1,228,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock valued at $98,388,000 after buying an additional 10,782 shares during the last quarter. National Pension Service boosted its stake in shares of Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock worth $81,172,000 after buying an additional 12,563 shares during the last quarter. LSV Asset Management boosted its stake in shares of Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock worth $133,381,000 after buying an additional 3,548 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $72,050,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Ameriprise Financial by 116.5% in the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider's stock valued at $6,561,000 after acquiring an additional 7,200 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Trading Down 0.3%

Shares of Ameriprise Financial stock opened at $560.71 on Thursday. The stock has a market capitalization of $50.41 billion, a P/E ratio of 13.52, a P/E/G ratio of 0.76 and a beta of 1.14. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50-day simple moving average is $513.75 and its 200 day simple moving average is $481.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $9.11 earnings per share. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a dividend of $1.70 per share. 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 is presently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 472 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 713 shares of the company's stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 in the last quarter. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMP. Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Jefferies Financial Group upped 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. Weiss Ratings raised Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Finally, Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Moderate Buy" and a consensus price target of $555.33.

About Ameriprise Financial

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.

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