Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Ieq Capital LLC

Ieq Capital LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,579 shares of the financial services provider’s stock after purchasing an additional 416 shares during the period. Ieq Capital LLC’s holdings in Ameriprise Financial were worth $3,238,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $460.61 on Friday. The business’s 50-day moving average price is $430.15 and its 200 day moving average price is $428.59. 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 twelve month low of $306.63 and a twelve month high of $465.82. The company has a market capitalization 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.

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, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the company earned $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMP shares. UBS Group decreased 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. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $464.33.

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.