Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Choreo LLC

Choreo LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 93.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,615 shares of the financial services provider’s stock after purchasing an additional 3,187 shares during the quarter. Choreo LLC’s holdings in Ameriprise Financial were worth $2,819,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Retirement Group LLC acquired a new stake in Ameriprise Financial during the 1st quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. increased its stake 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 worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Ameriprise Financial in the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC boosted its stake in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Finally, Morgan Stanley reduced their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $464.33.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $434.20 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a fifty day moving average price of $428.22 and a 200 day moving average price of $426.58. The company has a market cap of $43.13 billion, a P/E ratio of 14.78, a PEG ratio of 0.74 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm earned $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

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.