Advisory Services Network LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,835 shares of the financial services provider’s stock after acquiring an additional 763 shares during the period. Advisory Services Network LLC’s holdings in Ameriprise Financial were worth $2,353,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. boosted its stake in Ameriprise Financial by 106.6% in the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 65 shares in the last quarter. KRS Capital Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $39,000. DeDora Capital Inc. acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $41,000. Finally, Tompkins Financial Corp purchased a new stake in Ameriprise Financial during the 1st quarter valued at about $48,000. Institutional investors own 82.92% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on AMP shares. Evercore ISI dropped their target price on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, July 6th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $325.00 to $270.00 in a research report on Friday, June 24th. Morgan Stanley increased their price target on Ameriprise Financial from $270.00 to $295.00 and gave the company an “equal weight” rating in a report 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 target price for the company. 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 note on Friday, July 15th. One investment 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’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Moderate Buy” and a consensus price target of $316.70.
Insider Activity at Ameriprise Financial
Ameriprise Financial Stock Down 1.8 %
Shares of AMP opened at $272.26 on Friday. The stock has a market capitalization of $29.45 billion, a PE ratio of 9.80, a P/E/G ratio of 0.84 and a beta of 1.48. Ameriprise Financial, Inc. has a 1 year low of $219.99 and a 1 year high of $332.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50-day simple moving average is $266.20 and its 200-day simple moving average is $269.92.
Ameriprise Financial (NYSE:AMP – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 posted $5.27 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 23.97 earnings per share for the current fiscal year.
Ameriprise Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $5.00 annualized dividend and a yield of 1.84%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.01%.
About Ameriprise Financial
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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