Strathmore Capital Advisors Inc. Takes $751,000 Position in Ameriprise Financial, Inc. $AMP

Key Points

• Strathmore Capital Advisors Inc. has acquired a new stake in Ameriprise Financial, purchasing 1,393 shares valued at approximately $751,000 during the second quarter.
• Several hedge funds have significantly increased their positions in Ameriprise Financial, with notable increases from GAMMA Investing LLC and JPMorgan Chase & Co., reflecting growing institutional interest in the company.
• The company recently declared a quarterly dividend of $1.60 per share, representing an annualized dividend yield of 1.3%, with a low payout ratio of 19.91%.

Strathmore Capital Advisors Inc. bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,393 shares of the financial services provider's stock, valued at approximately $751,000.

Several other hedge funds have also recently made changes to their positions in AMP. GAMMA Investing LLC raised its position in shares of Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after buying an additional 2,109,824 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. Nuveen LLC bought a new position in Ameriprise Financial during the 1st quarter valued at about $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ameriprise Financial by 55.0% during the 1st 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 valued at $1,086,724,000 after purchasing an additional 796,925 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after purchasing an additional 266,631 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm'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 value of $768,510.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred 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 owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $485.97 on Thursday. The company has a market cap of $45.81 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average of $512.67 and a two-hundred day moving average of $502.15.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $8.72 earnings per share. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMP. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $534.71.

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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