Auxier Asset Management Purchases 680 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Auxier Asset Management increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,081 shares of the financial services provider’s stock after buying an additional 680 shares during the period. Auxier Asset Management’s holdings in Ameriprise Financial were worth $2,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TrinityPoint Wealth LLC boosted its position in shares of Ameriprise Financial by 15.4% during the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 227 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Ameriprise Financial by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 4,270 shares of the financial services provider’s stock worth $1,622,000 after buying an additional 110 shares during the period. US Bancorp DE increased its stake in shares of Ameriprise Financial by 3.1% in the 4th quarter. US Bancorp DE now owns 98,904 shares of the financial services provider’s stock valued at $37,567,000 after acquiring an additional 2,953 shares in the last quarter. Team Hewins LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $524,000. Finally, Eagle Global Advisors LLC boosted its stake in Ameriprise Financial by 8.1% during the fourth quarter. Eagle Global Advisors LLC now owns 1,600 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $460.61 on Friday. 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 stock has a market cap of $45.75 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The stock’s fifty day simple moving average is $430.15 and its two-hundred day simple moving average is $428.48. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $465.82.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

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

Insider Activity at Ameriprise Financial

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

About Ameriprise Financial

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.