BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 29,610 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 41.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 101,043 shares of the financial services provider’s stock after acquiring an additional 29,610 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Ameriprise Financial were worth $43,165,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $514,539,000. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Ameriprise Financial by 1,001.2% in the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after purchasing an additional 512,884 shares during the last quarter. TD Asset Management Inc grew its position in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at approximately $108,938,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Argus increased their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler dropped 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. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Up 1.4 %

Shares of NYSE AMP opened at $449.26 on Friday. The company’s 50 day moving average price is $427.17 and its 200-day moving average price is $423.78. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $450.35. The company has a market capitalization of $44.62 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results 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. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm posted $7.44 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.32%. Ameriprise Financial’s payout ratio is currently 20.15%.

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.