Andra AP fonden Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Andra AP fonden lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,100 shares of the financial services provider’s stock after acquiring an additional 5,300 shares during the quarter. Andra AP fonden’s holdings in Ameriprise Financial were worth $12,858,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMP. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in Ameriprise Financial in the second quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the first quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC raised its stake in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $434.20 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $450.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $43.13 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The business has a 50 day simple moving average of $428.22 and a 200 day simple moving average of $426.58.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $7.44 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMP. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% 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.