Ameriprise Financial, Inc. $AMP Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 70.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,189 shares of the financial services provider’s stock after purchasing an additional 18,295 shares during the quarter. Ameriprise Financial comprises 1.0% of Meeder Asset Management Inc.’s holdings, making the stock its 20th largest position. Meeder Asset Management Inc.’s holdings in Ameriprise Financial were worth $20,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. SouthState Bank Corp boosted its position in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Ameriprise Financial during the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AMP. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Trading Down 1.4%

Ameriprise Financial stock opened at $561.83 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The stock’s 50 day simple moving average is $509.29 and its two-hundred day simple moving average is $480.60. The firm has a market cap of $50.51 billion, a PE ratio of 13.55, a P/E/G ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the firm earned $9.11 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.40%.

Insider Activity

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares of the company’s stock, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial 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.