Legal & General Group Plc acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 572,603 shares of the financial services provider’s stock, valued at approximately $262,687,000. Legal & General Group Plc owned about 0.64% of Ameriprise Financial at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. SouthState Bank Corp raised its stake in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the second quarter worth approximately $28,000. Fiduciary Financial Advisors acquired a new position in Ameriprise Financial in the second quarter worth approximately $30,000. Finally, Ares Financial Consulting LLC bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Price Performance
Shares of NYSE:AMP opened at $561.04 on Thursday. The business has a 50 day moving average price of $523.27 and a 200 day moving average price of $482.17. The company has a market cap of $50.44 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.75 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56.
Ameriprise Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio is 16.40%.
Wall Street Analysts Forecast Growth
Several analysts have commented on AMP shares. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Two 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $555.33.
Read Our Latest Stock Analysis on Ameriprise Financial
Insider Transactions at Ameriprise Financial
In related news, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 over the last 90 days. 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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