EverSource Wealth Advisors LLC Purchases 304 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

EverSource Wealth Advisors LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 43.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 998 shares of the financial services provider’s stock after purchasing an additional 304 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AMP. TrinityPoint Wealth LLC boosted its stake in Ameriprise Financial by 15.4% in the 4th quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock valued at $645,000 after buying an additional 227 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Ameriprise Financial by 9.0% in 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 in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $420,000. TD Asset Management Inc boosted 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 valued at $226,243,000 after buying an additional 358,780 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Ameriprise Financial by 1.8% in the 4th quarter. Stifel Financial Corp now owns 81,513 shares of the financial services provider’s stock valued at $30,961,000 after buying an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AMP shares. Morgan Stanley decreased their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. 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 note on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Trading Up 0.3 %

Shares of AMP opened at $463.38 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $465.82. The firm has a market capitalization of $46.03 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The stock’s fifty day simple moving average is $431.16 and its 200-day simple moving average is $429.39.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors 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 yield of 1.28%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Activity at Ameriprise Financial

In related 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 value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $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 corporate insiders.

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.