Coastal Bridge Advisors LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,021 shares of the financial services provider's stock, valued at approximately $927,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock worth $2,171,360,000 after purchasing an additional 18,879 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial in the fourth quarter worth about $742,438,000. Boston Partners increased its holdings in Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after buying an additional 13,172 shares during the last quarter. AQR Capital Management LLC increased its holdings in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock valued at $532,455,000 after buying an additional 496,319 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Ameriprise Financial by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock valued at $455,387,000 after buying an additional 19,731 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $263,814.96. Following the transaction, 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. In the last quarter, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on AMP shares. Jefferies Financial Group increased their target price on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Piper Sandler upped their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Morgan Stanley raised their price objective 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, Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $555.33.
Get Our Latest Research Report on Ameriprise Financial
Ameriprise Financial Trading Down 0.7%
NYSE:AMP opened at $556.15 on Friday. The firm 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 has a 50 day simple moving average of $525.04 and a 200 day simple moving average of $482.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate 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%.The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $9.11 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.
Ameriprise Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Ameriprise Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameriprise Financial wasn't on the list.
While Ameriprise Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
