Global Retirement Partners LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,994 shares of the financial services provider's stock, valued at approximately $915,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. Alberta Investment Management Corp acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $16,836,000. Kelleher Financial Advisors lifted its holdings in Ameriprise Financial by 477.1% in the 2nd quarter. Kelleher Financial Advisors now owns 1,766 shares of the financial services provider's stock worth $810,000 after purchasing an additional 1,460 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Ameriprise Financial by 7.3% during the second quarter. Russell Investments Group Ltd. now owns 148,178 shares of the financial services provider's stock worth $67,666,000 after purchasing an additional 10,145 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Ameriprise Financial by 10.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 126,831 shares of the financial services provider's stock valued at $58,185,000 after purchasing an additional 12,183 shares during the last quarter. Finally, KBC Group NV grew its holdings in Ameriprise Financial by 43.7% during the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider's stock valued at $98,691,000 after purchasing an additional 65,400 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.
Ameriprise Financial Stock Up 0.2%
Shares of AMP stock opened at $562.89 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market cap of $50.60 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. The stock has a 50 day moving average of $511.57 and a 200-day moving average of $481.04.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted $9.11 earnings per share. Ameriprise Financial's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.
Ameriprise Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.40%.
Insider Activity at Ameriprise Financial
In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated 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 sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the sale, the executive vice president owned 3,373 shares of the company's stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Piper Sandler lifted their target price 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. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $555.33.
Get Our Latest Analysis on AMP
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.
Further Reading
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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