IFG Advisory LLC Buys Shares of 874 Ameriprise Financial, Inc. (NYSE:AMP)

IFG Advisory LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 874 shares of the financial services provider’s stock, valued at approximately $373,000.

Several other large investors have also modified their holdings of the business. Retirement Group LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the second quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $28,000. Finally, Bank & Trust Co acquired a new position in Ameriprise Financial in the 2nd quarter valued at about $29,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $449.44 on Monday. 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 fifty-two week low of $306.63 and a fifty-two week high of $450.35. The business has a 50 day moving average price of $427.33 and a two-hundred day moving average price of $424.61. The firm has a market cap of $44.64 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $7.44 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.32%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Argus lifted their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Morgan Stanley cut their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada upped their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average 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.