Beacon Pointe Advisors LLC Makes New Investment in Ameriprise Financial, Inc. $AMP

Beacon Pointe Advisors LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,167 shares of the financial services provider's stock, valued at approximately $2,371,000.

Several other large investors have also modified their holdings of AMP. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock valued at $98,388,000 after buying an additional 10,782 shares in the last quarter. National Pension Service lifted its stake in Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock worth $81,172,000 after acquiring an additional 12,563 shares in the last quarter. LSV Asset Management boosted its holdings in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock valued at $133,381,000 after acquiring an additional 3,548 shares during the period. Ausdal Financial Partners Inc. purchased a new position in Ameriprise Financial during the 2nd quarter valued at about $485,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Ameriprise Financial in the 4th quarter valued at about $72,050,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Finally, Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Two 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.33.

Insider Activity at Ameriprise Financial

In other news, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated 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 owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 713 shares of the company's stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $559.79 on Friday. 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. The firm has a market capitalization of $50.33 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The stock's 50-day simple moving average is $526.87 and its 200-day simple moving average is $482.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the company posted $9.11 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial Company 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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