Pacer Advisors Inc. Has $6.10 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Pacer Advisors Inc. increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 70.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,287 shares of the financial services provider’s stock after buying an additional 5,914 shares during the period. Pacer Advisors Inc.’s holdings in Ameriprise Financial were worth $6,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in Ameriprise Financial during the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC increased its stake in shares of Ameriprise Financial by 153.8% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

Shares of Ameriprise Financial stock opened at $461.93 on Tuesday. The business has a fifty day simple moving average of $430.48 and a two-hundred day simple moving average of $429.03. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $465.82. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

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

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 1.28%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on 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 transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMP shares. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group increased their target price on 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 lowered their target price on 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, Morgan Stanley lowered their target price on 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $464.33.

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.