Bank of America Corp DE Purchases 4,060 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bank of America Corp DE raised its stake in Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 883,898 shares of the financial services provider’s stock after purchasing an additional 4,060 shares during the quarter. Bank of America Corp DE owned 0.80% of Ameriprise Financial worth $265,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its stake in shares of Ameriprise Financial by 106.6% in the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 65 shares during the last quarter. KRS Capital Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $39,000. DeDora Capital Inc. purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $41,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $48,000. 82.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial 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 sale, the director now owns 16,500 shares of the company’s stock, valued at $4,570,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $278.14 on Tuesday. Ameriprise Financial, Inc. has a one year low of $219.99 and a one year high of $332.37. The business has a fifty day moving average price of $266.20 and a 200-day moving average price of $269.64. 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 firm has a market capitalization of $30.09 billion, a P/E ratio of 9.80, a PEG ratio of 0.82 and a beta of 1.48.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, August 5th. Ameriprise Financial’s payout ratio is currently 18.01%.

Ameriprise Financial Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPGet Rating).

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

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.