iSAM Funds UK Ltd Invests $789,000 in Ameriprise Financial, Inc. $AMP

iSAM Funds UK Ltd acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,720 shares of the financial services provider’s stock, valued at approximately $789,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC lifted its holdings in shares of Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC boosted its stake in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after buying an additional 2,922 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMP shares. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Morgan Stanley upped 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. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Two equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Trading Up 1.7%

NYSE:AMP opened at $551.68 on Thursday. The company has a market capitalization of $49.60 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The stock has a fifty day simple moving average of $531.85 and a 200-day simple moving average of $483.74.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.87 billion. During the same period in the prior year, the company earned $9.11 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.