ORG Partners LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 480 shares of the financial services provider’s stock, valued at approximately $205,000.
Several other institutional investors have also made changes to their positions in AMP. Louisiana State Employees Retirement System acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $2,317,000. Mackenzie Financial Corp lifted its stake in Ameriprise Financial by 0.6% in the fourth quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock valued at $3,842,000 after acquiring an additional 62 shares during the last quarter. Keel Point LLC lifted its stake in Ameriprise Financial by 10.4% in the fourth quarter. Keel Point LLC now owns 1,143 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 108 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in Ameriprise Financial by 0.9% in the fourth quarter. Flputnam Investment Management Co. now owns 6,228 shares of the financial services provider’s stock valued at $2,366,000 after acquiring an additional 57 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ameriprise Financial by 2.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,515 shares of the financial services provider’s stock valued at $14,629,000 after acquiring an additional 888 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Ameriprise Financial
In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.
Ameriprise Financial Stock Performance
Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly 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. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.44 EPS. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.
Analysts Set New Price Targets
A number of analysts have issued reports on AMP shares. Piper Sandler reduced 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. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. UBS Group reduced their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $464.33.
View Our Latest Report on Ameriprise Financial
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.
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