Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,215 shares of the financial services provider’s stock after acquiring an additional 4,859 shares during the quarter. Raymond James & Associates’ holdings in Ameriprise Financial were worth $74,801,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares during the last quarter. Swedbank AB purchased a new position in shares of Ameriprise Financial in the first quarter worth about $108,938,000. Maj Invest Holding A S purchased a new position in shares of Ameriprise Financial in the third quarter worth about $98,742,000. AGF Management Ltd. raised its stake in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.1 %

AMP opened at $522.64 on Tuesday. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a fifty day moving average of $459.95 and a two-hundred day moving average of $437.89. The stock has a market capitalization of $51.91 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMP. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lowered their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $480.44.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

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.