Diversify Advisory Services LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,282 shares of the financial services provider’s stock, valued at approximately $1,228,000.
Several other institutional investors and hedge funds have also recently modified their holdings of AMP. Oxbow Advisors LLC purchased a new position in shares of Ameriprise Financial during the second quarter worth about $3,356,000. Wealthfront Advisers LLC raised its stake in Ameriprise Financial by 1.9% in the second quarter. Wealthfront Advisers LLC now owns 14,702 shares of the financial services provider’s stock valued at $6,745,000 after purchasing an additional 278 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Ameriprise Financial by 70.7% during the second quarter. Meeder Asset Management Inc. now owns 44,189 shares of the financial services provider’s stock valued at $20,272,000 after purchasing an additional 18,295 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Ameriprise Financial by 9.4% during the second quarter. Perigon Wealth Management LLC now owns 8,517 shares of the financial services provider’s stock valued at $3,907,000 after purchasing an additional 729 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in Ameriprise Financial in the 2nd quarter worth approximately $1,426,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Insider Activity
In other news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by corporate insiders.
Ameriprise Financial Price Performance
Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.87 billion. During the same quarter in the prior year, the firm posted $9.11 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.
Ameriprise Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be given a dividend of $1.70 per share. 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 dividend payout ratio is presently 16.40%.
Analyst Ratings Changes
A number of equities analysts have recently commented on AMP shares. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. BMO Capital Markets increased their target price 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. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.
Check Out Our Latest Report on Ameriprise Financial
Ameriprise Financial Company Profile
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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