Horizon Investments LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 396.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,353 shares of the financial services provider’s stock after purchasing an additional 3,477 shares during the quarter. Horizon Investments LLC’s holdings in Ameriprise Financial were worth $1,301,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. bought a new position in Ameriprise Financial in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. increased its stake in shares of Ameriprise Financial by 106.6% during the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 65 shares during the period. Confluence Wealth Services Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $39,000. KRS Capital Management LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $39,000. Finally, DeDora Capital Inc. acquired a new position in Ameriprise Financial in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
Insiders Place Their Bets
In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Friday, August 26th. The shares were sold at an average price of $277.01, for a total transaction of $277,010.00. Following the transaction, the director now owns 16,500 shares in the company, valued at $4,570,665. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.
Ameriprise Financial Stock Up 1.5 %
Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.82 by ($0.01). Ameriprise Financial had a return on equity of 53.86% and a net margin of 23.49%. During the same quarter last year, the firm earned $5.27 EPS. As a group, analysts forecast that Ameriprise Financial, Inc. will post 23.97 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were given a dividend of $1.25 per share. The ex-dividend date was Friday, August 5th. This represents a $5.00 annualized dividend and a yield of 1.74%. Ameriprise Financial’s dividend payout ratio is presently 18.01%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on AMP shares. Evercore ISI reduced their target price on shares of Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, July 6th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $325.00 to $270.00 in a report on Friday, June 24th. Morgan Stanley boosted their price target on Ameriprise Financial from $270.00 to $295.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Bank of America started coverage on Ameriprise Financial in a research note on Wednesday, September 7th. They set a “buy” rating and a $336.00 price objective on the stock. Finally, Piper Sandler cut their target price on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating for the company in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.70.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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