DekaBank Deutsche Girozentrale Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

DekaBank Deutsche Girozentrale grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 21.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,400 shares of the financial services provider’s stock after buying an additional 10,423 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Ameriprise Financial were worth $25,723,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $28,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $32,000. Annapolis Financial Services LLC lifted its holdings in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $15.75 during trading on Friday, hitting $402.61. 679,597 shares of the stock traded hands, compared to its average volume of 551,653. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37. The firm’s fifty day moving average is $430.64 and its 200-day moving average is $419.58. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $449.94.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company earned $7.44 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.47%. Ameriprise Financial’s payout ratio is 20.15%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. UBS Group dropped their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler decreased their target price 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. Jefferies Financial Group upped 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. Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.