NewEdge Wealth LLC decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 51.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,325 shares of the financial services provider's stock after selling 2,442 shares during the quarter. NewEdge Wealth LLC's holdings in Ameriprise Financial were worth $1,033,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the period. Norges Bank bought a new stake in shares of Ameriprise Financial in the 4th quarter worth about $742,438,000. Boston Partners grew its holdings in shares of Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock worth $586,083,000 after purchasing an additional 13,172 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider's stock worth $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Ameriprise Financial by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider's stock worth $455,387,000 after purchasing an additional 19,731 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
AMP has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a report on Friday. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley boosted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday, July 10th. Finally, Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $555.33.
Get Our Latest Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares of the company's stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.
Ameriprise Financial Stock Up 1.5%
Shares of NYSE AMP opened at $537.01 on Tuesday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The firm's 50-day simple moving average is $477.51 and its 200 day simple moving average is $474.98. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market cap of $48.28 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16.
Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 43.92 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.40%.
About Ameriprise Financial
(
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
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