3,524 Shares in Ameriprise Financial, Inc. $AMP Bought by Beverly Hills Private Wealth LLC

Key Points

• Beverly Hills Private Wealth LLC acquired 3,524 Ameriprise Financial shares worth approximately $1.62 million, while institutional investors collectively own 83.95% of the company.
• Ameriprise reported quarterly EPS of $11.07, beating estimates of $10.81, on revenue of $4.90 billion—an 11.6% year-over-year increase. The company also declared a quarterly dividend of $1.70 per share, equivalent to a 1.2% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $555.33; however, insiders have sold nearly 30,000 shares worth $16.3 million over the past 90 days.

Beverly Hills Private Wealth LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,524 shares of the financial services provider's stock, valued at approximately $1,617,000.

Other large investors 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% during 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 period. National Pension Service increased its holdings in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock valued at $81,172,000 after buying an additional 12,563 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock valued at $133,381,000 after purchasing an additional 3,548 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $72,050,000. Finally, D.A. Davidson & CO. lifted its position in shares of Ameriprise Financial by 116.5% in the 4th 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. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $570.06 on Monday. The company has a market capitalization of $51.25 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The business has a 50 day simple moving average of $507.03 and a 200 day simple moving average of $480.15. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for 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 firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.11 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial's payout ratio is currently 16.40%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMP. Jefferies Financial Group increased their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Morgan Stanley lifted 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. Piper Sandler lifted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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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