Concurrent Investment Advisors LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 93.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,295 shares of the financial services provider's stock after buying an additional 627 shares during the period. Concurrent Investment Advisors LLC's holdings in Ameriprise Financial were worth $691,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Ameriprise Financial by 1.9% during the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after buying an additional 83 shares during the last quarter. Spire Wealth Management boosted its stake in Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after buying an additional 683 shares during the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $371,000. Advisory Alpha LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $265,000. Finally, Exchange Traded Concepts LLC boosted its stake in Ameriprise Financial by 488.5% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after buying an additional 806 shares during the last quarter. 83.95% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Raymond James Financial upped their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Finally, William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $539.50.
View Our Latest Research Report on AMP
Insider Buying and Selling at Ameriprise Financial
In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.
Ameriprise Financial Trading Up 0.5%
Shares of NYSE AMP opened at $470.03 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The business's 50 day moving average price is $497.70 and its 200-day moving average price is $501.23. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.05 and a beta of 1.26.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the business posted $8.72 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's dividend payout ratio is presently 19.91%.
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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