Certuity LLC Buys 214 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Certuity LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,691 shares of the financial services provider’s stock after buying an additional 214 shares during the quarter. Certuity LLC’s holdings in Ameriprise Financial were worth $1,150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in Ameriprise Financial during the 4th quarter worth $514,539,000. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. First Trust Advisors LP grew its position in Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after purchasing an additional 512,884 shares in the last quarter. TD Asset Management Inc increased its stake in Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $108,938,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $430.17 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market cap of $42.73 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.78 and a beta of 1.35. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $450.35. The firm’s 50-day simple moving average is $428.01 and its two-hundred day simple moving average is $425.94.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company posted $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is currently 20.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Piper Sandler reduced their price target 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. Finally, Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average 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.