5,672 Shares in Ameriprise Financial, Inc. $AMP Purchased by Aurora Investment Counsel

Key Points

• Aurora Investment Counsel purchased 5,672 Ameriprise Financial shares during the second quarter, valued at approximately $2.6 million and representing 1.3% of its portfolio. Institutional investors collectively own 83.95% of the company.
• Ameriprise reported quarterly earnings of $11.07 per share, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. The company also declared a quarterly dividend of $1.70 per share, equivalent to a 1.2% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $555.33, although recent insider activity has been notable: company insiders sold nearly 30,000 shares worth $16.3 million over the past 90 days.

Aurora Investment Counsel bought a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,672 shares of the financial services provider's stock, valued at approximately $2,602,000. Ameriprise Financial comprises approximately 1.3% of Aurora Investment Counsel's portfolio, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SouthState Bank Corp grew its stake in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $28,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $32,000. Finally, Prosperity Bancshares Inc purchased a new position in Ameriprise Financial in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Down 0.3%

Shares of NYSE AMP opened at $560.71 on Thursday. The firm's fifty day moving average is $513.75 and its 200 day moving average is $481.33. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week 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 has a market cap of $50.41 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.76 and a beta of 1.14.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be issued 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 currently 16.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Zacks Research upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Jefferies Financial Group upped their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Two investment 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 given a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company's stock, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.

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.

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).

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