Ransom Advisory Ltd Purchases Shares of 1,020 Ameriprise Financial, Inc. $AMP

Key Points

• Ransom Advisory Ltd has acquired a new stake in Ameriprise Financial, purchasing 1,020 shares valued at approximately $494,000 during the first quarter.
• CEO William F. Truscott sold 9,929 shares at an average price of $506.89, decreasing his position by 47.34%.
• Analysts have set varied price targets for Ameriprise Financial, with an average target of $534.71, indicating mixed ratings, including one "Strong Buy" and multiple "Hold" ratings.

Ransom Advisory Ltd purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,020 shares of the financial services provider's stock, valued at approximately $494,000.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Advisory Alpha LLC acquired a new position in shares of Ameriprise Financial during the first quarter worth approximately $265,000. SCS Capital Management LLC bought a new stake in Ameriprise Financial during the first quarter worth $397,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ameriprise Financial by 55.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock worth $1,086,724,000 after buying an additional 796,925 shares in the last quarter. Woodline Partners LP bought a new stake in Ameriprise Financial during the first quarter worth $35,597,000. Finally, Empowered Funds LLC grew its holdings in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after buying an additional 634 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares in the company, 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. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMP shares. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Morgan Stanley downgraded Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price objective for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Finally, William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $534.71.

Ameriprise Financial Stock Up 0.3%

Shares of NYSE AMP opened at $494.11 on Wednesday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05. 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 business's fifty day moving average price is $518.50 and its 200-day moving average price is $503.51. The stock has a market capitalization of $46.58 billion, a PE ratio of 15.37, a P/E/G ratio of 1.05 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the prior year, the firm earned $8.72 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial 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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