Mediolanum International Funds Ltd Has $14.67 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mediolanum International Funds Ltd grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 11.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,352 shares of the financial services provider’s stock after acquiring an additional 3,268 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Ameriprise Financial were worth $14,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position 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 valued at about $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.03 on Friday, hitting $504.24. The company’s stock had a trading volume of 98,300 shares, compared to its average volume of 469,684. The company has a market capitalization of $50.08 billion, a PE ratio of 17.12, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $307.57 and a fifty-two week high of $524.89. The company has a 50 day moving average price of $464.19 and a 200 day moving average price of $439.06. 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 posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm earned $7.44 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.17%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the company’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 transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMP shares. Piper Sandler lowered their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.