Atria Wealth Solutions Inc. Purchases 332 Shares of Ameriprise Financial, Inc. $AMP

Atria Wealth Solutions Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,523 shares of the financial services provider’s stock after purchasing an additional 332 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Ameriprise Financial were worth $1,880,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont lifted its position in Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 19 shares in the last quarter. Plancorp LLC raised its holdings in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the last quarter. Old Port Advisors raised its holdings in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in Ameriprise Financial by 3.0% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $481.48 on Thursday. 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 stock has a 50 day simple moving average of $499.00 and a 200 day simple moving average of $501.48. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The firm has a market capitalization of $45.39 billion, a PE ratio of 14.98, a P/E/G ratio of 1.09 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the firm earned $8.72 EPS. Ameriprise Financial’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Raymond James Financial boosted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Evercore ISI lowered their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Finally, Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Company 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.