Bank of America Corp DE raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 883,898 shares of the financial services provider’s stock after acquiring an additional 4,060 shares during the quarter. Bank of America Corp DE’s holdings in Ameriprise Financial were worth $265,486,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Ensign Peak Advisors Inc boosted its position in shares of Ameriprise Financial by 5.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 8,945 shares of the financial services provider’s stock worth $2,699,000 after purchasing an additional 442 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Ameriprise Financial by 1.6% in the 4th quarter. Eagle Asset Management Inc. now owns 20,211 shares of the financial services provider’s stock worth $6,103,000 after purchasing an additional 325 shares in the last quarter. KRS Capital Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $39,000. Invesco Ltd. boosted its position in shares of Ameriprise Financial by 5.7% in the 4th quarter. Invesco Ltd. now owns 808,052 shares of the financial services provider’s stock worth $243,757,000 after purchasing an additional 43,720 shares in the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in shares of Ameriprise Financial by 3.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 117,244 shares of the financial services provider’s stock worth $35,368,000 after purchasing an additional 4,351 shares in the last quarter. 82.92% of the stock is owned by institutional investors.
Insider Transactions at Ameriprise Financial
In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $277.01, for a total value of $277,010.00. Following the completion of the sale, the director now directly owns 16,500 shares in the company, valued at approximately $4,570,665. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
Ameriprise Financial Price Performance
Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $5.81 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 period in the previous year, the business earned $5.27 earnings per share. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 23.97 EPS for the current year.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were paid a $1.25 dividend. The ex-dividend date was Friday, August 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.80%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.01%.
Analyst Ratings Changes
A number of brokerages have recently commented on AMP. Evercore ISI dropped their price target on Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Piper Sandler lowered their price objective on Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating on the stock in a research report on Friday, July 15th. Bank of America began coverage on Ameriprise Financial in a research report on Wednesday, September 7th. They issued a “buy” rating and a $336.00 price objective on the stock. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $325.00 to $270.00 in a research report on Friday, June 24th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $270.00 to $295.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.70.
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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