Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,249 shares of the financial services provider’s stock after purchasing an additional 11,060 shares during the quarter. Legal & General Group Plc owned 0.83% of Ameriprise Financial worth $351,685,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empirical Finance LLC grew its position in shares of Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $775,000. State Board of Administration of Florida Retirement System grew its holdings in Ameriprise Financial by 7.9% during the 1st 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 acquiring an additional 8,693 shares in the last quarter. BDF Gestion purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $2,836,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Ameriprise Financial by 12.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMP. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a research note on Thursday. Morgan Stanley dropped their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Piper Sandler cut their target price 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. UBS Group lowered their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price objective 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 research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $463.00.

Ameriprise Financial Trading Up 0.2 %

NYSE:AMP opened at $468.62 on Friday. The company has a market capitalization of $46.01 billion, a PE ratio of 15.95, a P/E/G ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $471.57. The stock’s 50 day moving average price is $434.13 and its 200 day moving average price is $430.41. 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 (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 analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for 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 company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $7.44 earnings per share. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 yield of 1.26%. Ameriprise Financial’s dividend payout ratio is presently 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.