Tredje AP fonden Buys 15,100 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Tredje AP fonden raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 61.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,558 shares of the financial services provider’s stock after acquiring an additional 15,100 shares during the quarter. Tredje AP fonden’s holdings in Ameriprise Financial were worth $16,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC bought a new position in Ameriprise Financial during the first quarter valued at $25,000. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in Ameriprise Financial during the second quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the first quarter worth about $28,000. Finally, Mascoma Wealth Management LLC increased its stake in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 1.6 %

Shares of Ameriprise Financial stock opened at $452.36 on Wednesday. The company has a 50 day simple moving average of $429.17 and a two-hundred day simple moving average of $427.73. The firm has a market cap of $44.93 billion, a PE ratio of 15.40, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $453.99. 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 announced 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 company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $7.44 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred 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 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 SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $464.33.

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.