New Century Financial Group LLC Acquires 814 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New Century Financial Group LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 129.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,445 shares of the financial services provider’s stock after buying an additional 814 shares during the quarter. New Century Financial Group LLC’s holdings in Ameriprise Financial were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMP. Heartland Bank & Trust Co grew its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the period. Portside Wealth Group LLC lifted its stake in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after buying an additional 25 shares during the period. Signaturefd LLC boosted its holdings in Ameriprise Financial by 1.1% during the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 26 shares during the period. Finally, Aua Capital Management LLC increased its stake in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $469.81 on Tuesday. The company has a market capitalization of $46.66 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 0.80 and a beta of 1.35. The business’s 50-day moving average price is $435.13 and its two-hundred day moving average price is $430.89. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $471.57. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its 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 firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $7.44 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased 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 report on Tuesday, July 30th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. UBS Group dropped their price objective 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. Royal Bank of Canada boosted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $463.00.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

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.