Oppenheimer & Co. Inc. Has $374,000 Stock Holdings in Ameriprise Financial, Inc. $AMP

Oppenheimer & Co. Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 71.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 762 shares of the financial services provider’s stock after selling 1,935 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ameriprise Financial were worth $374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Ameriprise Financial during the second quarter worth $693,736,000. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after acquiring an additional 219,080 shares in the last quarter. Hsbc Holdings PLC lifted its position in Ameriprise Financial by 29.8% in the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after acquiring an additional 112,784 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after purchasing an additional 111,386 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 2.0%

NYSE:AMP opened at $478.23 on Thursday. The stock has a market capitalization of $44.43 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $501.75 and its 200 day moving average is $490.16.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the business posted $9.54 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is 17.60%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $555.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total value of $676,410.00. Following the transaction, the director directly owned 7,500 shares in the company, valued at $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,158 shares of company stock valued at $9,675,085. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.