Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 318.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,146 shares of the financial services provider’s stock after acquiring an additional 3,917 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Ameriprise Financial were worth $2,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after buying an additional 603,267 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after acquiring an additional 512,884 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after acquiring an additional 358,780 shares during the period. Swedbank AB bought a new stake in Ameriprise Financial during the first quarter worth approximately $108,938,000. Finally, Epoch Investment Partners Inc. boosted its stake in Ameriprise Financial by 104.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the 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 completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $461.93 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $465.82. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $45.88 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The business has a fifty day simple moving average of $430.48 and a 200-day simple moving average of $429.03.

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

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Morgan Stanley dropped 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. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. UBS Group cut their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Finally, Piper Sandler cut their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. One 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.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $464.33.

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.