Sanctuary Advisors LLC Takes Position in Ameriprise Financial, Inc. $AMP

Sanctuary Advisors LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,955 shares of the financial services provider’s stock, valued at approximately $5,026,000.

Other institutional investors have also modified their holdings of the company. SouthState Bank Corp lifted its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 1.0%

Shares of Ameriprise Financial stock opened at $561.00 on Tuesday. The company has a market cap of $50.43 billion, a P/E ratio of 13.53, a PEG ratio of 0.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The firm has a fifty day moving average of $519.69 and a two-hundred day moving average of $481.87.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the company earned $9.11 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the transaction, the senior vice president directly owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley lifted 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. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

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.