ProShare Advisors LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

ProShare Advisors LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,180 shares of the financial services provider’s stock after purchasing an additional 768 shares during the quarter. ProShare Advisors LLC’s holdings in Ameriprise Financial were worth $8,621,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC boosted its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after buying an additional 113 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth $775,000. State Board of Administration of Florida Retirement System raised its holdings in Ameriprise Financial by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the last quarter. TD Asset Management Inc raised its holdings in 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 worth $226,243,000 after purchasing an additional 358,780 shares during the last quarter. Finally, BDF Gestion acquired a new position in Ameriprise Financial during the second quarter worth $2,836,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $463.38 on Wednesday. The company has a market cap of $46.03 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.75 and a beta of 1.35. 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 52 week low of $306.63 and a 52 week high of $465.82. The business has a fifty day simple moving average of $431.16 and a 200-day simple moving average of $429.39.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating 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 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 earned $7.44 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMP shares. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. UBS Group reduced 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. Morgan Stanley reduced their price objective 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 boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler cut 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.