Ameriprise Financial, Inc. (NYSE:AMP) Stake Raised by Gratus Wealth Advisors LLC

Gratus Wealth Advisors LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,177 shares of the financial services provider’s stock after buying an additional 209 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $1,046,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Retirement Group LLC bought a new position in shares of Ameriprise Financial in the first quarter worth $25,000. DiNuzzo Private Wealth Inc. increased its stake in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMP. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $469.67.

Ameriprise Financial Stock Up 0.7 %

NYSE:AMP opened at $483.97 on Wednesday. The business’s fifty day moving average price is $439.97 and its 200 day moving average price is $432.73. The firm has a market capitalization of $48.07 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.80 and a beta of 1.35. 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, Inc. has a 1-year low of $306.63 and a 1-year high of $490.23.

Ameriprise Financial (NYSE:AMP) last issued 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 company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $7.44 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.22%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 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.