Bank of Montreal Can Purchases 4,968 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bank of Montreal Can raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 320,827 shares of the financial services provider’s stock after acquiring an additional 4,968 shares during the period. Bank of Montreal Can owned approximately 0.32% of Ameriprise Financial worth $141,405,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC boosted its holdings in Ameriprise Financial by 15.4% during the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 227 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Ameriprise Financial by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 44,457 shares of the financial services provider’s stock valued at $16,886,000 after buying an additional 1,127 shares during the period. Hsbc Holdings PLC lifted its position in shares of Ameriprise Financial by 9.0% during the 4th quarter. Hsbc Holdings PLC now owns 269,317 shares of the financial services provider’s stock valued at $102,350,000 after buying an additional 22,213 shares during the last quarter. 3Chopt Investment Partners LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $420,000. Finally, TD Asset Management Inc lifted its stake in 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 worth $226,243,000 after purchasing an additional 358,780 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped 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 report on Tuesday, July 30th. UBS Group reduced their price objective on 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 boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler decreased their price objective 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, Jefferies Financial Group lifted their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $464.33.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.3 %

AMP stock opened at $461.93 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82. The business has a 50 day moving average of $430.48 and a 200 day moving average of $429.03. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market cap of $45.88 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The firm 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 business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $7.44 earnings per share. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Ameriprise Financial Company 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.