Simplicity Wealth LLC Acquires 1,067 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Simplicity Wealth LLC significantly increased its stake in Ameriprise Financial by 109.3%, acquiring an additional 1,067 shares during the second quarter, bringing their total holdings to 2,043 shares valued at approximately $1,090,000.
• Ameriprise Financial's stock performance showed a consensus rating of "Hold" with an average price target of $535.14, amid varying analyst ratings ranging from Strong Buy to Sell.
• The company reported a quarterly earnings per share of $9.11, exceeding projections, with revenue up 2.2% year-on-year, totaling $4.49 billion.

Simplicity Wealth LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 109.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,043 shares of the financial services provider's stock after acquiring an additional 1,067 shares during the quarter. Simplicity Wealth LLC's holdings in Ameriprise Financial were worth $1,090,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. TD Capital Management LLC increased its holdings in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter worth approximately $29,000. WPG Advisers LLC bought a new position in Ameriprise Financial during the 1st quarter worth $33,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial in the 1st quarter valued at $36,000. Finally, TCTC Holdings LLC lifted its position in shares of Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 49 shares during the period. Institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMP shares. Piper Sandler boosted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Ameriprise Financial in a report on Saturday, September 27th. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday. They issued a "market perform" rating and a $525.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and an average price target of $535.14.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $493.88 on Tuesday. The company's 50 day moving average price is $502.45 and its two-hundred day moving average price is $502.19. The firm has a market capitalization of $46.56 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week 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.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced 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 company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the company earned $8.72 EPS. Ameriprise Financial's revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's 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 transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

About Ameriprise Financial

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.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.