Cetera Investment Advisers Has $15.16 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Cetera Investment Advisers boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 35,479 shares of the financial services provider’s stock after buying an additional 1,158 shares during the quarter. Cetera Investment Advisers’ holdings in Ameriprise Financial were worth $15,157,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 18.6% during 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 buying an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the period. Legal & General Group Plc boosted its position in shares of Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Ameriprise Financial by 18.8% during 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 period. Finally, Envestnet Asset Management Inc. increased its holdings in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock valued at $247,786,000 after purchasing an additional 32,312 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 1.5 %

Ameriprise Financial stock opened at $486.94 on Friday. 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 company’s 50-day moving average is $439.00 and its 200-day moving average is $432.38. The firm has a market capitalization of $48.37 billion, a PE ratio of 16.57, a P/E/G ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $490.23.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $7.44 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.81 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. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.15%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. 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 report on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Piper Sandler dropped their price target 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 analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $463.00.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on 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 transaction, the vice president now directly 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 SEC, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Ameriprise Financial 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.