Strategic Global Advisors LLC Purchases Shares of 13,199 Ameriprise Financial, Inc. $AMP

Strategic Global Advisors LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,199 shares of the financial services provider’s stock, valued at approximately $6,055,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. SouthState Bank Corp increased its stake in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial during the second quarter worth about $28,000. Fiduciary Financial Advisors purchased a new position in shares of Ameriprise Financial during the second quarter worth about $30,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMP. Piper Sandler raised their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.33.

Insider Buying and Selling

In other news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 over the last three months. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 0.1%

Shares of NYSE AMP opened at $561.04 on Thursday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50 day simple moving average is $523.27 and its two-hundred day simple moving average is $482.17. The stock has a market capitalization of $50.44 billion, a P/E ratio of 13.53, a PEG ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm posted $9.11 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is presently 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.