EP Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,713 shares of the financial services provider's stock, valued at approximately $1,704,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Bank Corp increased its holdings in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after buying an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $28,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.95% of the company's stock.
Insiders Place Their Bets
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 transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares of the company's stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last ninety days. 0.60% of the stock is owned by insiders.
Ameriprise Financial Price Performance
NYSE AMP opened at $556.56 on Friday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.75 and a beta of 1.14. The stock has a 50-day simple moving average of $517.67 and a 200 day simple moving average of $482.00.
Ameriprise Financial (NYSE:AMP - Get Free Report) last released its 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. 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 company's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $9.11 EPS. Research analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.
Ameriprise Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's dividend payout ratio is currently 16.40%.
Analyst Ratings Changes
A number of brokerages have issued reports on AMP. Keefe, Bruyette & Woods upped their target price 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. 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 upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research note on Friday, July 10th. Two equities research 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 issued a Sell rating to the company's stock. According to MarketBeat, Ameriprise Financial currently has an average rating of "Moderate Buy" and an average target price of $555.33.
Check Out Our Latest Analysis 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.
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).
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