Tectonic Advisors LLC Acquires 208 Shares of Ameriprise Financial, Inc. $AMP

Tectonic Advisors LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,590 shares of the financial services provider’s stock after buying an additional 208 shares during the quarter. Tectonic Advisors LLC’s holdings in Ameriprise Financial were worth $1,916,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hager Investment Management Services LLC raised its position in Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 40 shares during the period. Trifecta Capital Advisors LLC boosted its stake in shares of Ameriprise Financial by 1,107.6% during the second quarter. Trifecta Capital Advisors LLC now owns 1,268 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 1,163 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Ameriprise Financial by 2.2% in the second quarter. Maryland State Retirement & Pension System now owns 4,644 shares of the financial services provider’s stock valued at $2,479,000 after acquiring an additional 100 shares in the last quarter. Abel Hall LLC boosted its stake in Ameriprise Financial by 17.8% in the second quarter. Abel Hall LLC now owns 648 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 98 shares in the last quarter. Finally, REAP Financial Group LLC boosted its stake in Ameriprise Financial by 203.3% in the second quarter. REAP Financial Group LLC now owns 182 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Piper Sandler raised their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $535.14.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $490.09 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a market capitalization of $46.20 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The firm has a 50-day moving average price of $501.37 and a two-hundred day moving average price of $502.07. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $8.72 earnings per share. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is 19.91%.

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.