Delta Investment Management LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Delta Investment Management LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent filing with the SEC. The firm bought 510 shares of the financial services provider’s stock, valued at approximately $218,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the period. First Trust Advisors LP raised its stake in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. Swedbank AB acquired a new stake in Ameriprise Financial during the 1st quarter worth about $108,938,000. Epoch Investment Partners Inc. grew its stake in Ameriprise Financial by 104.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research note on Thursday. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $467.51 on Friday. The company has a market capitalization of $45.90 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company’s fifty day moving average price is $431.99 and its 200 day moving average price is $429.63. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $469.39.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.27%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Ameriprise Financial Company 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.