Bfsg LLC Has $2.10 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Bfsg LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,477 shares of the financial services provider’s stock after acquiring an additional 520 shares during the period. Bfsg LLC’s holdings in Ameriprise Financial were worth $2,103,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC raised its holdings in Ameriprise Financial by 74.3% in the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 75 shares during the period. Zhang Financial LLC increased its position in shares of Ameriprise Financial by 13.8% in the 3rd quarter. Zhang Financial LLC now owns 3,272 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 396 shares in the last quarter. Creative Planning raised its stake in Ameriprise Financial by 1.6% during the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after buying an additional 348 shares during the period. Wesbanco Bank Inc. lifted its holdings in Ameriprise Financial by 9.9% during the third quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock worth $549,000 after acquiring an additional 105 shares in the last quarter. Finally, Empirical Asset Management LLC grew its stake in Ameriprise Financial by 27.3% in the third quarter. Empirical Asset Management LLC now owns 8,710 shares of the financial services provider’s stock valued at $4,092,000 after acquiring an additional 1,870 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.8 %

Ameriprise Financial stock opened at $521.61 on Friday. The company has a market cap of $51.81 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 0.81 and a beta of 1.35. The firm has a 50-day moving average of $455.23 and a 200-day moving average of $436.59. 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, Inc. has a one year low of $306.63 and a one year high of $523.60.

Ameriprise Financial (NYSE:AMP) last issued 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 firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm posted $7.44 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMP. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $480.44.

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.