Oak Ridge Investments LLC Has $794,000 Stake in Ameriprise Financial, Inc. $AMP

Key Points

• Oak Ridge Investments LLC significantly increased its stake in Ameriprise Financial by 106.8%, bringing its holdings to 1,489 shares worth approximately $794,000.
• Multiple institutional investors have also adjusted their positions, with notable increases in stakes, particularly by Exchange Traded Concepts LLC, which boosted its stake by 488.5% in the first quarter.
• Ameriprise Financial's stock recently saw a 2.4% decline and analysts have varied target prices, with an average rating of "Hold" and a consensus target price of $539.50.

Oak Ridge Investments LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 106.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,489 shares of the financial services provider's stock after purchasing an additional 769 shares during the period. Oak Ridge Investments LLC's holdings in Ameriprise Financial were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management boosted its stake in Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after purchasing an additional 683 shares during the period. Ascent Group LLC acquired a new position in Ameriprise Financial in the 1st quarter worth approximately $371,000. Advisory Alpha LLC acquired a new position in Ameriprise Financial in the 1st quarter worth approximately $265,000. Finally, Exchange Traded Concepts LLC boosted its stake in Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after purchasing an additional 806 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI decreased their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating for the company in a research note on Thursday. Morgan Stanley decreased their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research note on Wednesday, October 1st. William Blair lowered shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Raymond James Financial lifted their target price 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, Piper Sandler lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $539.50.

Insider Buying and Selling at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value 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 approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Ameriprise Financial Stock Down 2.4%

AMP stock opened at $479.75 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a fifty day simple moving average of $500.39 and a 200 day simple moving average of $501.72. The firm has a market cap of $45.23 billion, a PE ratio of 14.93, a PEG ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's payout ratio is presently 19.91%.

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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