Allspring Global Investments Holdings LLC Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Allspring Global Investments Holdings LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 83.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,364 shares of the financial services provider’s stock after buying an additional 32,025 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Ameriprise Financial worth $33,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP opened at $520.47 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89. The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $464.19 and a 200 day simple moving average of $439.06.

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. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company earned $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, UBS Group increased their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $480.44.

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.