OneAscent Financial Services LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 618 shares of the financial services provider’s stock, valued at approximately $205,000.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ameriprise Financial by 3.6% in the first quarter. BlackRock Inc. now owns 9,317,752 shares of the financial services provider’s stock valued at $2,855,891,000 after purchasing an additional 322,614 shares during the period. Geode Capital Management LLC raised its stake in shares of Ameriprise Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,405,659 shares of the financial services provider’s stock valued at $748,008,000 after purchasing an additional 15,491 shares in the last quarter. Morgan Stanley grew its position in Ameriprise Financial by 9.0% in the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock valued at $739,686,000 after buying an additional 195,537 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ameriprise Financial by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,828,093 shares of the financial services provider’s stock valued at $560,310,000 after buying an additional 17,431 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after buying an additional 1,586,121 shares during the period. Institutional investors own 82.62% of the company’s stock.
Insider Activity at Ameriprise Financial
In other news, CEO James M. Cracchiolo sold 9,616 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $354.00, for a total transaction of $3,404,064.00. Following the transaction, the chief executive officer now owns 157,103 shares in the company, valued at approximately $55,614,462. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO James M. Cracchiolo sold 9,616 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $354.00, for a total value of $3,404,064.00. Following the transaction, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at approximately $55,614,462. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 13,042 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $351.55, for a total value of $4,584,915.10. Following the completion of the sale, the chief financial officer now owns 8,048 shares of the company’s stock, valued at $2,829,274.40. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.
Wall Street Analyst Weigh In
Ameriprise Financial Stock Down 0.8 %
Shares of NYSE:AMP opened at $347.12 on Friday. Ameriprise Financial, Inc. has a 52 week low of $249.35 and a 52 week high of $358.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $35.62 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.66 and a beta of 1.48. The firm has a 50 day simple moving average of $342.79 and a 200 day simple moving average of $321.00.
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its earnings results on Thursday, July 27th. The financial services provider reported $7.44 EPS for the quarter, topping the consensus estimate of $7.29 by $0.15. Ameriprise Financial had a return on equity of 82.23% and a net margin of 15.94%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the firm posted $5.81 earnings per share. Ameriprise Financial’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 29.94 earnings per share for the current year.
Ameriprise Financial declared that its board has authorized a stock repurchase program on Wednesday, July 26th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Ameriprise Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $5.40 dividend on an annualized basis and a yield of 1.56%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.10. Ameriprise Financial’s dividend payout ratio is currently 25.36%.
About Ameriprise Financial
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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