Howard Capital Management Group LLC Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Howard Capital Management Group LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,787 shares of the financial services provider’s stock after purchasing an additional 178 shares during the period. Howard Capital Management Group LLC’s holdings in Ameriprise Financial were worth $840,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMP. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Ameriprise Financial by 11.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,906 shares of the financial services provider’s stock worth $5,124,000 after buying an additional 1,159 shares during the last quarter. Bar Harbor Wealth Management purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $211,000. Trifecta Capital Advisors LLC grew its position in shares of Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after buying an additional 33 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Ameriprise Financial by 8.8% in the 3rd quarter. Global Retirement Partners LLC now owns 3,732 shares of the financial services provider’s stock worth $1,753,000 after buying an additional 301 shares during the last quarter. Finally, Bfsg LLC grew its position in shares of Ameriprise Financial by 13.1% in the 3rd quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock worth $2,103,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Piper Sandler lowered their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. UBS Group lifted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $521.61 on Friday. 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, Inc. has a 12 month low of $306.63 and a 12 month high of $523.60. The company has a 50 day simple moving average of $455.23 and a two-hundred day simple moving average of $436.59. The stock has a market cap of $51.81 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 0.81 and a beta of 1.35.

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, beating 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 firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the business posted $7.44 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the business’s 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 completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by insiders.

About Ameriprise Financial

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.