Commonwealth Equity Services LLC Has $18.97 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Commonwealth Equity Services LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,413 shares of the financial services provider’s stock after buying an additional 4,203 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ameriprise Financial were worth $18,973,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMP. Retirement Group LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the 2nd quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Bank & Trust Co acquired a new position in shares of Ameriprise Financial during the second quarter worth approximately $29,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Argus raised their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods cut their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Up 1.5 %

NYSE AMP opened at $449.44 on Tuesday. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35. The company has a market capitalization of $44.64 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.78 and a beta of 1.37. The stock’s 50 day moving average is $427.51 and its two-hundred day moving average is $424.98. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm earned $7.44 EPS. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 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 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

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.