Zhang Financial LLC Buys 1,235 Shares of Ameriprise Financial, Inc. $AMP

Zhang Financial LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 22.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,743 shares of the financial services provider’s stock after purchasing an additional 1,235 shares during the quarter. Zhang Financial LLC’s holdings in Ameriprise Financial were worth $2,996,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth $742,438,000. Boston Partners boosted its stake in shares of Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares in the last quarter. AQR Capital Management LLC boosted its position in Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Ameriprise Financial by 0.7% in the fourth quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock valued at $477,148,000 after acquiring an additional 6,934 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $553.67.

Ameriprise Financial Stock Performance

NYSE AMP opened at $527.91 on Friday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The stock has a market cap of $47.46 billion, a PE ratio of 13.13, a P/E/G ratio of 0.95 and a beta of 1.16. The stock has a fifty day simple moving average of $470.45 and a 200-day simple moving average of $473.87. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.50 EPS. Equities analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.