REAP Financial Group LLC Buys 122 Shares of Ameriprise Financial, Inc. $AMP

REAP Financial Group LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 203.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 182 shares of the financial services provider’s stock after purchasing an additional 122 shares during the quarter. REAP Financial Group LLC’s holdings in Ameriprise Financial were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMP. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. Nuveen LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after acquiring an additional 796,925 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after acquiring an additional 266,631 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Ameriprise Financial by 78.6% during the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock valued at $202,869,000 after acquiring an additional 189,525 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $490.09 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $46.20 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.12 and a beta of 1.26. The company has a fifty day moving average of $501.37 and a 200-day moving average of $502.07.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.72 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is currently 19.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Finally, Raymond James Financial boosted their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $535.14.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate 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.