Ameriprise Financial, Inc. (NYSE:AMP) Position Boosted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 698 shares of the financial services provider’s stock after acquiring an additional 105 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Ameriprise Financial were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empirical Finance LLC grew its stake in Ameriprise Financial by 3.0% during the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Ameriprise Financial during the 4th quarter valued at about $775,000. State Board of Administration of Florida Retirement System grew its stake in Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 8,693 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares during the last quarter. Finally, BDF Gestion acquired a new stake in shares of Ameriprise Financial during the 2nd quarter valued at about $2,836,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMP shares. Royal Bank of Canada lifted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler reduced their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Finally, Morgan Stanley reduced their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $451.33 on Thursday. The business has a fifty day simple moving average of $429.39 and a 200 day simple moving average of $427.90. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $44.83 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.75 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $458.23.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $7.44 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Ameriprise Financial 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.