UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $374.92 Million Stake in Ameriprise Financial, Inc. $AMP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 817,247 shares of the financial services provider's stock after purchasing an additional 22,819 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.91% of Ameriprise Financial worth $374,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth about $25,000. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial during the 1st quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the 2nd quarter worth about $28,000. Finally, Fiduciary Financial Advisors bought a new stake in Ameriprise Financial during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMP shares. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Piper Sandler upped their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $559.79 on Monday. The company has a market cap of $50.33 billion, a PE ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company's 50-day moving average is $526.87 and its two-hundred day moving average is $482.40.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter in the previous year, the company earned $9.11 EPS. Ameriprise Financial's revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial's payout ratio is currently 16.40%.

About Ameriprise Financial

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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