United Capital Financial Advisors LLC Makes New Investment in Ameriprise Financial, Inc. $AMP

United Capital Financial Advisors LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, HoldingsChannel reports. The firm purchased 5,940 shares of the financial services provider’s stock, valued at approximately $2,725,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the period. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter worth approximately $742,438,000. Boston Partners boosted its position in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Ameriprise Financial by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after purchasing an additional 19,731 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMP. Piper Sandler upped their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $559.79 on Friday. The firm has a 50-day simple moving average of $526.87 and a 200-day simple moving average of $482.80. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the company earned $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is owned by corporate insiders.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.