Mercer Global Advisors Inc. ADV Acquires 7,156 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 36.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,805 shares of the financial services provider’s stock after buying an additional 7,156 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ameriprise Financial were worth $11,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Portside Wealth Group LLC boosted its holdings in Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares during the period. Signaturefd LLC increased its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the period. Coldstream Capital Management Inc. raised its holdings in Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 26 shares during the last quarter. Aua Capital Management LLC boosted its position in Ameriprise Financial by 4.7% during the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after buying an additional 27 shares during the period. Finally, Gratus Wealth Advisors LLC grew its holdings in Ameriprise Financial by 1.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 27 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. 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 report on Monday, July 29th. UBS Group reduced their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. One research 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $464.33.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 2.7 %

Shares of NYSE AMP opened at $463.73 on Friday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $464.47. 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 firm has a 50-day moving average of $429.87 and a 200 day moving average of $428.14. The stock has a market cap of $46.06 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The firm 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 business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $7.44 earnings per share. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal 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 $1.48 dividend. The ex-dividend date 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 is currently 20.15%.

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.