Atomi Financial Group Inc. Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Atomi Financial Group Inc. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 32.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 623 shares of the financial services provider’s stock after purchasing an additional 152 shares during the period. Atomi Financial Group Inc.’s holdings in Ameriprise Financial were worth $266,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth $25,000. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $28,000. Bank & Trust Co acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $29,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $32,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.0 %

Shares of AMP stock opened at $439.48 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The firm has a 50-day moving average price of $427.16 and a 200 day moving average price of $423.65. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company posted $7.44 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Royal Bank of Canada lifted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Argus lifted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with 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.