Pacer Advisors Inc. Acquires 5,914 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pacer Advisors Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 70.6% in the second quarter, HoldingsChannel reports. The firm owned 14,287 shares of the financial services provider’s stock after purchasing an additional 5,914 shares during the period. Pacer Advisors Inc.’s holdings in Ameriprise Financial were worth $6,103,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Retirement Group LLC bought a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Ameriprise Financial by 268.8% during 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 bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 153.8% during the second 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 in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Morgan Stanley decreased 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. Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, Piper Sandler decreased their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE AMP opened at $461.93 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $465.82. The stock has a market capitalization of $45.88 billion, a PE ratio of 15.72, a P/E/G ratio of 0.75 and a beta of 1.35. The business’s fifty day moving average price is $430.48 and its 200-day moving average price is $429.03.

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

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. 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 1.28%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Activity at Ameriprise Financial

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

About Ameriprise Financial

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.