Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Verity & Verity LLC

Verity & Verity LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,020 shares of the financial services provider’s stock after purchasing an additional 1,228 shares during the quarter. Verity & Verity LLC’s holdings in Ameriprise Financial were worth $9,407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMP. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares during the period. First Trust Advisors LP raised its position in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the period. Swedbank AB acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $108,938,000. Epoch Investment Partners Inc. grew its holdings in shares of Ameriprise Financial by 104.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock worth $145,183,000 after purchasing an additional 195,475 shares during the period. Finally, AGF Management Ltd. lifted its position in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.7 %

AMP opened at $473.26 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $476.18. The business has a 50-day moving average of $436.17 and a two-hundred day moving average of $431.27. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Activity at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group upped their price objective 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. Finally, Morgan Stanley reduced their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $463.00.

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.