Country Trust Bank Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Country Trust Bank lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 213.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69 shares of the financial services provider’s stock after purchasing an additional 47 shares during the period. Country Trust Bank’s holdings in Ameriprise Financial were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Atomi Financial Group Inc. increased its stake in Ameriprise Financial by 6.6% during the 3rd quarter. Atomi Financial Group Inc. now owns 664 shares of the financial services provider’s stock worth $312,000 after buying an additional 41 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Ameriprise Financial by 5.7% during the 3rd quarter. Miracle Mile Advisors LLC now owns 741 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 40 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% during the 3rd quarter. Diversified Trust Co now owns 7,610 shares of the financial services provider’s stock worth $3,575,000 after purchasing an additional 65 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Ameriprise Financial by 15.6% during the 3rd quarter. GAMMA Investing LLC now owns 4,102 shares of the financial services provider’s stock worth $1,927,000 after purchasing an additional 554 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Ameriprise Financial by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 55,789 shares of the financial services provider’s stock worth $26,210,000 after purchasing an additional 34,890 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $483.97 on Wednesday. The firm has a market capitalization of $48.07 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The business’s fifty day moving average price is $439.97 and its 200 day moving average price is $432.73. 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, Inc. has a 12 month low of $306.63 and a 12 month high of $490.23.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler decreased their price objective on 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 cut 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, September 26th. UBS Group upped their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley decreased their price objective 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. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $469.67.

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.