Vanguard Personalized Indexing Management LLC Increases Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Ameriprise Financial by 19.9% during the second quarter, acquiring a total of 22,597 shares valued at approximately $12.08 million.
• Recent research reports show mixed analyst ratings for Ameriprise Financial, with price targets ranging from $434.00 to $601.00, and an average rating of "Hold" as of now.
• Ameriprise Financial reported earnings of $9.11 per share for the last quarter, exceeding expectations and showcasing a slight revenue increase of 2.2% compared to the previous year.

Vanguard Personalized Indexing Management LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 19.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,597 shares of the financial services provider's stock after acquiring an additional 3,754 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Ameriprise Financial were worth $12,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after acquiring an additional 83 shares during the last quarter. Spire Wealth Management lifted its position in Ameriprise Financial by 91.6% in the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after acquiring an additional 683 shares during the last quarter. Ascent Group LLC purchased a new stake in Ameriprise Financial in the first quarter valued at $371,000. Advisory Alpha LLC purchased a new stake in Ameriprise Financial in the first quarter valued at $265,000. Finally, Exchange Traded Concepts LLC lifted its position in Ameriprise Financial by 488.5% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 806 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a "market perform" rating and a $525.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial lifted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $539.50.

Ameriprise Financial Trading Down 2.4%

Shares of Ameriprise Financial stock opened at $479.75 on Monday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week 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's 50-day simple moving average is $500.39 and its 200-day simple moving average is $501.72. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.

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

Ameriprise Financial Announces Dividend

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 was Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.

Insider Activity

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

Ameriprise Financial Company 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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