BTC Capital Management Inc. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,011 shares of the financial services provider's stock after purchasing an additional 671 shares during the quarter. BTC Capital Management Inc.'s holdings in Ameriprise Financial were worth $4,750,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Ameriprise Financial by 17.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,642 shares of the financial services provider's stock valued at $877,000 after purchasing an additional 240 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Ameriprise Financial by 18.5% in the second quarter. Diversified Trust Co now owns 8,929 shares of the financial services provider's stock worth $4,766,000 after buying an additional 1,393 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Ameriprise Financial by 350.4% in the second quarter. Assenagon Asset Management S.A. now owns 94,236 shares of the financial services provider's stock worth $50,297,000 after buying an additional 73,314 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Ameriprise Financial by 20.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,131 shares of the financial services provider's stock worth $9,671,000 after buying an additional 3,100 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Ameriprise Financial by 1.8% in the second quarter. IFM Investors Pty Ltd now owns 19,993 shares of the financial services provider's stock worth $10,671,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock traded up $5.20 during mid-day trading on Monday, reaching $494.72. 551,437 shares of the stock traded hands, compared to its average volume of 507,457. The business has a 50-day moving average of $510.69 and a 200 day moving average of $501.75. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock has a market capitalization of $46.64 billion, a PE ratio of 15.39, a PEG ratio of 1.04 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.
Wall Street Analyst Weigh In
AMP has been the topic of a number of recent research reports. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $534.71.
Check Out Our Latest Stock Analysis on AMP
Insider Activity at Ameriprise Financial
In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.
About Ameriprise Financial
(
Free Report)
Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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