Hilltop National Bank Invests $2.83 Million in Ameriprise Financial, Inc. $AMP

Hilltop National Bank bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,304 shares of the financial services provider's stock, valued at approximately $2,831,000. Ameriprise Financial makes up approximately 0.7% of Hilltop National Bank's portfolio, making the stock its 28th biggest position.

Several other hedge funds have also modified their holdings of the company. Lecap Asset Management Ltd. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $577,000. SOA Wealth Advisors LLC. lifted its stake in Ameriprise Financial by 1.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 10,026 shares of the financial services provider's stock valued at $5,351,000 after buying an additional 187 shares in the last quarter. Trust Co. of Vermont lifted its stake in Ameriprise Financial by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider's stock valued at $1,618,000 after buying an additional 19 shares in the last quarter. Childress Capital Advisors LLC lifted its stake in Ameriprise Financial by 16.0% in the 2nd quarter. Childress Capital Advisors LLC now owns 667 shares of the financial services provider's stock valued at $356,000 after buying an additional 92 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in Ameriprise Financial by 1.4% in the 2nd quarter. Venture Visionary Partners LLC now owns 15,073 shares of the financial services provider's stock valued at $8,045,000 after buying an additional 203 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 1.0%

AMP opened at $491.33 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The company's 50 day simple moving average is $503.52 and its two-hundred day simple moving average is $502.08. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05. The firm has a market capitalization of $46.32 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $8.72 EPS. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Raymond James Financial raised their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Finally, William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $536.83.

Ameriprise Financial Company Profile

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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