Advisory Services Network LLC Grows Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Advisory Services Network LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 10.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,835 shares of the financial services provider’s stock after buying an additional 763 shares during the period. Advisory Services Network LLC’s holdings in Ameriprise Financial were worth $2,353,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth $32,000. Brown Brothers Harriman & Co. grew its holdings in Ameriprise Financial by 106.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 65 shares in the last quarter. KRS Capital Management LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $39,000. DeDora Capital Inc. acquired a new position in Ameriprise Financial during the 1st quarter worth $41,000. Finally, Tompkins Financial Corp acquired a new position in Ameriprise Financial during the 1st quarter worth $48,000. 82.92% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 1.8 %

AMP opened at $272.26 on Friday. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $332.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $29.45 billion, a P/E ratio of 9.80, a P/E/G ratio of 0.84 and a beta of 1.48. The stock’s 50 day moving average price is $266.20 and its 200 day moving average price is $269.92.

Ameriprise Financial (NYSE:AMPGet Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $5.81 EPS for the quarter, missing the consensus estimate of $5.82 by ($0.01). Ameriprise Financial had a net margin of 23.49% and a return on equity of 53.86%. During the same period last year, the firm earned $5.27 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 23.97 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 18.01%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $231.00 to $220.00 and set an “underweight” rating for the company in a report on Friday, July 15th. Evercore ISI decreased their price target on shares of Ameriprise Financial from $364.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $270.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 17th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $325.00 to $270.00 in a research note on Friday, June 24th. Finally, Bank of America assumed coverage on Ameriprise Financial in a report on Wednesday, September 7th. They set a “buy” rating and a $336.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Moderate Buy” and an average price target of $316.70.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $277.01, for a total transaction of $277,010.00. Following the completion of the transaction, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $4,570,665. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

About Ameriprise Financial

(Get Rating)

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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