Ameriprise Financial, Inc. $AMP Shares Bought by Journey Advisory Group LLC

Journey Advisory Group LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,941 shares of the financial services provider’s stock after purchasing an additional 210 shares during the period. Journey Advisory Group LLC’s holdings in Ameriprise Financial were worth $6,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the first quarter valued at $29,000. TD Capital Management LLC grew its position in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares during the period. WPG Advisers LLC acquired a new stake in Ameriprise Financial during the first quarter valued at $33,000. Finally, Hager Investment Management Services LLC grew its position in Ameriprise Financial by 114.3% during the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after buying an additional 40 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction 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. The trade was a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $470.03 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $44.31 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.05 and a beta of 1.26. The company’s 50-day moving average is $497.70 and its two-hundred day moving average is $501.60. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $539.50.

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.