Ashton Thomas Private Wealth LLC Acquires Shares of 190 Ameriprise Financial, Inc. (NYSE:AMP)

Ashton Thomas Private Wealth LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 190 shares of the financial services provider’s stock, valued at approximately $81,000.

Several other large investors have also modified their holdings of AMP. Norges Bank acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $514,539,000. JPMorgan Chase & Co. boosted its holdings 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 in the last quarter. First Trust Advisors LP boosted its holdings in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Ameriprise Financial by 151.5% in the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $108,938,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.2 %

AMP stock opened at $440.39 on Friday. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $450.35. The stock has a market capitalization of $43.24 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a fifty day moving average of $428.44 and a 200-day moving average of $427.05.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMP shares. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley decreased 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 note on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. 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. 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 analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $464.33.

Insider Activity

In other 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 owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

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.