UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 22,819 Shares of Ameriprise Financial, Inc. $AMP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 817,247 shares of the financial services provider’s stock after purchasing an additional 22,819 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ameriprise Financial were worth $374,920,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Essex Financial Services Inc. boosted its position in shares of Ameriprise Financial by 2.4% during the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 21 shares in the last quarter. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Ameriprise Financial by 5.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after buying an additional 23 shares in the last quarter. Optimist Retirement Group LLC raised its stake in Ameriprise Financial by 3.7% during the 3rd quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock worth $313,000 after buying an additional 23 shares during the period. Finally, Boyd Watterson Asset Management LLC OH raised its stake in Ameriprise Financial by 5.2% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider’s stock worth $237,000 after buying an additional 24 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.1%

AMP opened at $559.79 on Monday. The stock has a market capitalization of $50.33 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.75 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The firm’s fifty day simple moving average is $526.87 and its 200 day simple moving average is $482.40.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on AMP. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Piper Sandler lifted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Moderate Buy” and an average target price of $555.33.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the business’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 value of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Jerryl Williams sold 8,210 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,988 shares of company stock valued at $16,316,497 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Company 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.