Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Unisphere Establishment

Unisphere Establishment boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 11.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,000 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the quarter. Unisphere Establishment’s holdings in Ameriprise Financial were worth $8,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC purchased a new position in Ameriprise Financial in the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth $28,000. Finally, Mascoma Wealth Management LLC raised its holdings in Ameriprise Financial by 153.8% in 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of 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 reduced their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley lowered 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 upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. One investment 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 stock has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Price Performance

Shares of AMP opened at $463.38 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $465.82. 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 $431.16 and a 200 day moving average price of $429.39. The company has a market cap of $46.03 billion, a P/E ratio of 15.77, a PEG ratio of 0.75 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. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.44 earnings per share. 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. 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 dividend payout ratio (DPR) is presently 20.15%.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

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.