Johnson Financial Group Inc. Buys New Position in Ameriprise Financial, Inc. $AMP

Johnson Financial Group Inc. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,972 shares of the financial services provider's stock, valued at approximately $4,575,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC grew its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares in the last quarter. Empowered Funds LLC raised its holdings in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $313,000. Finally, Gabelli Funds LLC lifted its position in shares of Ameriprise Financial by 224.8% in the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after acquiring an additional 2,922 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMP. Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $555.33.

Ameriprise Financial Trading Down 0.3%

Shares of AMP opened at $560.71 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year 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. The stock has a 50 day simple moving average of $513.75 and a 200-day simple moving average of $481.33. The stock has a market cap of $50.41 billion, a PE ratio of 13.52, a PEG ratio of 0.76 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm earned $9.11 EPS. Ameriprise Financial's quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's payout ratio is currently 16.40%.

Insider Activity

In related news, insider William Jerryl Williams sold 8,210 shares of Ameriprise Financial stock in a transaction dated 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 completion of the transaction, the insider directly owned 6,780 shares of the company's stock, valued at $3,656,793. This trade represents a 54.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Company Profile

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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