Renaissance Technologies LLC Purchases 68,000 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Renaissance Technologies increased its Ameriprise Financial position by 88.3% in the first quarter, buying 68,000 additional shares and bringing its holdings to 145,000 shares valued at approximately $64.4 million.
• Ameriprise reported strong second-quarter results, with EPS of $11.07 beating estimates of $10.81 and revenue rising 11.6% year over year to $4.90 billion. The company also reported record assets under management and administration, supported by higher fee income.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $555.33. Ameriprise declared a quarterly dividend of $1.70 per share, equivalent to a $6.80 annualized payout and a 1.3% yield.

Renaissance Technologies LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 88.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,000 shares of the financial services provider's stock after buying an additional 68,000 shares during the period. Renaissance Technologies LLC owned approximately 0.16% of Ameriprise Financial worth $64,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SouthState Bank Corp boosted its stake in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the first quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $32,000. Prosperity Bancshares Inc purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at $33,000. Finally, Evolution Wealth Management Inc. acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial News Summary

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Ameriprise beat Q2 estimates, reporting EPS of $11.07 versus expectations of $10.81 and revenue of $4.90 billion versus $4.87 billion expected, with revenue up 11.6% year over year. Stronger fee income and record AUM/AUA levels suggest healthy operating momentum. Ameriprise Financial Announces Second Quarter 2026 Results
• Positive Sentiment: Management highlighted growth and return on equity on the earnings call, reinforcing the view that the company is executing well despite a higher expense environment. Ameriprise Earnings Call Highlights ROE and Growth
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on AMP to $545 from $515, signaling improved valuation support even though the firm kept a market perform rating. Benzinga report on price target increase
• Neutral Sentiment: The board declared a quarterly dividend of $1.70 per share, payable August 21 to shareholders of record on August 3. This supports the stock’s income profile, but the announcement was largely expected. Ameriprise Financial Declares Regular Quarterly Dividend
• Neutral Sentiment: Reuters noted that second-quarter profit rose on higher fee income, helped by a market rally that lifted the value of fee-generating assets. Ameriprise Financial quarterly profit rises on higher fee income

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley upped their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Ameriprise Financial currently has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $528.79 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.71. The stock has a 50-day moving average of $476.19 and a two-hundred day moving average of $474.79. The stock has a market cap of $47.54 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.94 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $9.11 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 43.92 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm 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. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial's dividend payout ratio is 16.40%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

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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