26,295 Shares in Ameriprise Financial, Inc. $AMP Purchased by Corient Private Wealth LP

Corient Private Wealth LP purchased a new position in Ameriprise Financial, Inc. (NYSE:AMPFree Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,295 shares of the financial services provider’s stock, valued at approximately $12,063,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SouthState Bank Corp grew its stake in shares of Ameriprise Financial by 78.6% in 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 during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial during the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the second quarter valued at approximately $28,000. Fiduciary Financial Advisors bought a new stake in Ameriprise Financial during the second quarter worth approximately $30,000. Finally, Prosperity Bancshares Inc acquired a new position in Ameriprise Financial in the fourth quarter worth approximately $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.7%

NYSE AMP opened at $559.79 on Friday. 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 firm’s fifty day simple moving average is $526.87 and its 200-day simple moving average is $482.80. The company has a market capitalization of $50.33 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio is 16.40%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Piper Sandler lifted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Morgan Stanley boosted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $555.33.

Check Out Our Latest Stock Analysis on AMP

Ameriprise Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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