Commerce Bank 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 & Exchange Commission. The fund purchased 24,697 shares of the financial services provider's stock, valued at approximately $11,330,000.
Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Ameriprise Financial during the 2nd quarter worth approximately $3,993,000. Quantbot Technologies LP bought a new stake in shares of Ameriprise Financial in the second quarter worth $5,894,000. Evolve Private Wealth LLC bought a new stake in shares of Ameriprise Financial in the second quarter worth $225,000. Varma Mutual Pension Insurance Co acquired a new position in Ameriprise Financial during the second quarter worth $1,147,000. Finally, Westpac Banking Corp bought a new position in Ameriprise Financial in the second quarter valued at $165,000. 83.95% of the stock is currently owned by institutional investors.
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial 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 transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.
Ameriprise Financial Price Performance
Ameriprise Financial stock opened at $556.56 on Monday. The stock's 50 day moving average is $517.67 and its 200-day moving average is $481.65. The company has a market capitalization of $50.03 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.74 and a beta of 1.14. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the business posted $9.11 EPS. The business's revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid 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 was Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.40%.
Wall Street Analyst Weigh In
AMP has been the subject of several analyst reports. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Zacks Research raised Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday, July 10th. Two 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 stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Moderate Buy" and a consensus target price of $555.33.
Check Out Our Latest Report on AMP
Ameriprise Financial Company 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.
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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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