Bank OZK Purchases Shares of 7,394 Ameriprise Financial, Inc. $AMP

Bank OZK purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,394 shares of the financial services provider's stock, valued at approximately $3,392,000.

A number of other large investors have also modified their holdings of the business. Old North State Trust LLC acquired a new position in shares of Ameriprise Financial during the second quarter valued at about $1,657,000. Equitable Holdings Inc. acquired a new stake in Ameriprise Financial in the 2nd quarter worth approximately $423,000. Centaurus Financial Inc. purchased a new stake in Ameriprise Financial during the 2nd quarter worth approximately $117,000. Coastal Bridge Advisors LLC purchased a new stake in Ameriprise Financial during the 2nd quarter worth approximately $927,000. Finally, Jefferies Financial Group Inc. acquired a new position in Ameriprise Financial during the 2nd quarter valued at approximately $522,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% 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 on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $556.15 on Friday. The company has a market capitalization of $50.00 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.75 and a beta of 1.14. The business's 50-day moving average is $525.04 and its two-hundred day moving average is $482.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS 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 the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.11 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMP shares. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Jefferies Financial Group raised 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. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $555.33.

Ameriprise Financial Profile

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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