Bulltick Wealth Management LLC Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Bulltick Wealth Management LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,900 shares of the financial services provider’s stock after acquiring an additional 240 shares during the quarter. Ameriprise Financial makes up 2.1% of Bulltick Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Bulltick Wealth Management LLC’s holdings in Ameriprise Financial were worth $8,501,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Portside Wealth Group LLC raised its holdings in Ameriprise Financial by 3.7% during the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Ameriprise Financial by 1.1% during the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 26 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 26 shares in the last quarter. Aua Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 27 shares during the last quarter. Finally, Gratus Wealth Advisors LLC boosted its position in shares of Ameriprise Financial by 1.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMP. 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 research report on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report 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 on the stock in a research report on Tuesday, July 9th. Morgan Stanley reduced their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $464.33.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $460.61 on Friday. The firm has a market capitalization of $45.75 billion, a PE ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35. The stock’s 50 day moving average is $430.15 and its two-hundred day moving average is $428.48. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

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

Ameriprise Financial Announces Dividend

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 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 (DPR) is 20.15%.

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.