Bridges Investment Management Inc. Has $3.86 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Bridges Investment Management Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 195.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,026 shares of the financial services provider’s stock after buying an additional 5,971 shares during the period. Bridges Investment Management Inc.’s holdings in Ameriprise Financial were worth $3,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Retirement Group LLC bought a new position in Ameriprise Financial in the 1st quarter valued at about $25,000. DiNuzzo Private Wealth Inc. increased its stake in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC lifted its stake in Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Up 2.7 %

Shares of NYSE AMP opened at $463.73 on Friday. The stock has a market cap of $46.06 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The firm has a 50 day moving average price of $429.87 and a two-hundred day moving average price of $428.14. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $464.47.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company earned $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMP shares. Royal Bank of Canada boosted their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $464.33.

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.