NewEdge Advisors LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 29.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,172 shares of the financial services provider’s stock after selling 4,724 shares during the quarter. NewEdge Advisors LLC’s holdings in Ameriprise Financial were worth $5,125,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also added to or reduced their stakes in AMP. IFP Advisors Inc raised its position in shares of Ameriprise Financial by 18.1% during the 2nd quarter. IFP Advisors Inc now owns 1,227 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 188 shares during the period. Waverly Advisors LLC boosted its holdings in Ameriprise Financial by 87.2% in the 2nd quarter. Waverly Advisors LLC now owns 6,263 shares of the financial services provider’s stock worth $2,873,000 after buying an additional 2,917 shares during the period. Bank OZK boosted its holdings in Ameriprise Financial by 10.3% in the 2nd quarter. Bank OZK now owns 7,394 shares of the financial services provider’s stock worth $3,392,000 after buying an additional 688 shares during the period. Empirical Finance LLC increased its stake in Ameriprise Financial by 2.9% in the 2nd quarter. Empirical Finance LLC now owns 3,632 shares of the financial services provider’s stock worth $1,666,000 after buying an additional 102 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Ameriprise Financial in the 2nd quarter worth $16,207,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Insider Transactions at Ameriprise Financial
In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction that occurred on 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 owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Dawn Brockman sold 472 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by insiders.
Ameriprise Financial Stock Up 0.2%
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.11 earnings per share. Analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on AMP shares. Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group upped their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.
Get Our Latest Research Report on AMP
Ameriprise Financial Company Profile
Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.
The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.
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