Alberta Investment Management Corp purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,700 shares of the financial services provider's stock, valued at approximately $16,836,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after buying an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at $313,000. Finally, Gabelli Funds LLC grew its position in shares of Ameriprise Financial by 224.8% in the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after buying an additional 2,922 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Ameriprise Financial Price Performance
Shares of NYSE:AMP opened at $570.06 on Monday. 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 50-day moving average price of $507.03 and a 200 day moving average price of $480.15. The company has a market cap of $51.25 billion, a P/E ratio of 13.75, a PEG 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.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.11 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The business 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. 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 presently 16.40%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised 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. 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 report on Friday, April 24th. Morgan Stanley raised their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $555.33.
View Our Latest Stock Analysis on Ameriprise Financial
Insider Transactions at Ameriprise Financial
In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm's 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 transaction, the executive vice president directly owned 3,373 shares of the company's stock, valued at $1,883,078.44. This trade represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,988 shares of company stock worth $16,316,497 over the last quarter. Insiders own 0.60% of the company's stock.
Ameriprise Financial Profile
(
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).
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