4,115 Shares in Ameriprise Financial, Inc. $AMP Bought by Eurizon SLJ Capital Ltd

Key Points

• Eurizon SLJ Capital initiated a position in Ameriprise Financial by purchasing 4,115 shares valued at approximately $1.89 million. Institutional investors collectively own 83.95% of AMP’s outstanding stock.
• Analyst sentiment remains positive, with Ameriprise carrying a “Moderate Buy” consensus rating and an average price target of $555.33; individual targets range as high as $645.
• Ameriprise exceeded quarterly earnings expectations, reporting $11.07 in EPS and $4.90 billion in revenue, while declaring a $1.70 quarterly dividend. Insiders sold nearly 30,000 shares worth $16.3 million over the past three months.

Eurizon SLJ Capital Ltd purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,115 shares of the financial services provider's stock, valued at approximately $1,888,000.

A number of other hedge funds have also made changes to their positions in AMP. Hohimer Wealth Management LLC boosted its position in Ameriprise Financial by 3.0% during the second quarter. Hohimer Wealth Management LLC now owns 8,093 shares of the financial services provider's stock worth $3,713,000 after purchasing an additional 233 shares during the period. Wedge Capital Management L L P NC boosted its stake in Ameriprise Financial by 14.4% during the second quarter. Wedge Capital Management L L P NC now owns 73,833 shares of the financial services provider's stock worth $33,872,000 after buying an additional 9,307 shares in the last quarter. Accel Wealth Management raised its stake in shares of Ameriprise Financial by 8.8% in the 2nd quarter. Accel Wealth Management now owns 1,574 shares of the financial services provider's stock valued at $722,000 after buying an additional 127 shares in the last quarter. Tema ETFs LLC lifted its holdings in shares of Ameriprise Financial by 9.8% during the 2nd quarter. Tema ETFs LLC now owns 1,623 shares of the financial services provider's stock worth $745,000 after acquiring an additional 145 shares during the period. Finally, Fiduciary Financial Group LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMP. Morgan Stanley upped their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. BMO Capital Markets increased their price objective 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. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $555.33.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the firm's stock in a transaction that occurred 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 completion of 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. In the last three months, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Down 0.1%

NYSE AMP opened at $570.06 on Friday. The stock has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.77 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 has a fifty day moving average of $507.03 and a 200-day moving average of $480.30.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $9.11 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

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

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.

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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