Copperwynd Financial LLC Has $1.04 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Copperwynd Financial LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,427 shares of the financial services provider’s stock after buying an additional 118 shares during the period. Copperwynd Financial LLC’s holdings in Ameriprise Financial were worth $1,044,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 603,267 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after buying an additional 11,060 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after acquiring an additional 111,973 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after acquiring an additional 32,312 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMP. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada upped their price target 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 cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a report on Thursday. Finally, UBS Group cut their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $463.00.

Ameriprise Financial Price Performance

Shares of AMP opened at $468.62 on Friday. The firm has a market cap of $46.01 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $471.57. 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 business’s 50 day moving average price is $434.13 and its two-hundred day moving average price is $430.41.

Ameriprise Financial (NYSE:AMP) last posted 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. 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 during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the company posted $7.44 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’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 transaction 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 SEC, which is available at this hyperlink. Corporate 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.