Great Lakes Advisors LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the second quarter, Holdings Channel reports. The firm bought 7,677 shares of the financial services provider’s stock, valued at approximately $3,522,000.
Other large investors have also added to or reduced their stakes in the company. EPG Wealth Management LLC increased its holdings in Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 21 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in shares of Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 21 shares in the last quarter. SouthState Bank Corp boosted its position 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 valued at $25,000 after buying an additional 22 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after buying an additional 23 shares in the last quarter. Finally, Optimist Retirement Group LLC grew its holdings in Ameriprise Financial by 3.7% during the third quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock worth $313,000 after buying an additional 23 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Stock Down 2.2%
Shares of NYSE:AMP opened at $547.54 on Friday. The company has a market capitalization of $49.22 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $515.71 and a two-hundred day moving average price of $481.47. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56.
Ameriprise Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s payout ratio is currently 16.40%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and a consensus price target of $555.33.
Get Our Latest Stock Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the transaction, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company’s stock.
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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