Atomi Financial Group Inc. Has $312,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Atomi Financial Group Inc. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664 shares of the financial services provider’s stock after acquiring an additional 41 shares during the period. Atomi Financial Group Inc.’s holdings in Ameriprise Financial were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Retirement Group LLC bought a new stake in Ameriprise Financial during the first quarter worth about $25,000. DiNuzzo Private Wealth Inc. lifted its holdings 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 worth $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC increased its stake 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 during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley dropped their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler dropped their target price 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. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $473.56.

Ameriprise Financial Price Performance

AMP stock opened at $502.50 on Friday. The company has a market capitalization of $49.34 billion, a P/E ratio of 17.21, a PEG ratio of 0.81 and a beta of 1.35. The company has a fifty day moving average price of $445.74 and a 200-day moving average price of $434.45. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $502.97.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (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 return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $7.44 EPS. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.28%.

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.