Miller Value Partners LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,428 shares of the financial services provider's stock, valued at approximately $2,031,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $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. Fiduciary Financial Advisors purchased a new position in Ameriprise Financial in the second quarter worth approximately $30,000. Finally, Ares Financial Consulting LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $32,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on AMP. 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. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on 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 lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $555.33.
Get Our Latest Analysis on AMP
Insider Transactions at Ameriprise Financial
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the transaction, the executive vice president owned 3,373 shares of the company's stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last quarter. Company insiders own 0.60% of the company's stock.
Ameriprise Financial Trading Down 0.1%
Shares of Ameriprise Financial stock opened at $560.30 on Wednesday. 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 company has a fifty day simple moving average of $521.48 and a 200-day simple moving average of $481.98. The stock has a market cap of $50.37 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56.
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, 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 firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the business earned $9.11 EPS. Ameriprise Financial's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is 16.40%.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Ameriprise Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameriprise Financial wasn't on the list.
While Ameriprise Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
