Ieq Capital LLC Buys 1,636 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ieq Capital LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 50.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,873 shares of the financial services provider’s stock after acquiring an additional 1,636 shares during the quarter. Ieq Capital LLC’s holdings in Ameriprise Financial were worth $1,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Ameriprise Financial by 1,166.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 312,845 shares of the financial services provider’s stock valued at $74,358,000 after buying an additional 288,145 shares during the period. Invesco Ltd. increased its holdings in Ameriprise Financial by 33.5% in the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after buying an additional 270,755 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ameriprise Financial by 48.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 763,424 shares of the financial services provider’s stock valued at $229,303,000 after buying an additional 249,192 shares during the period. Prudential Financial Inc. increased its holdings in Ameriprise Financial by 121.4% in the 1st quarter. Prudential Financial Inc. now owns 362,345 shares of the financial services provider’s stock valued at $108,834,000 after buying an additional 198,694 shares during the period. Finally, Deutsche Bank AG increased its holdings in Ameriprise Financial by 12.6% in the 2nd quarter. Deutsche Bank AG now owns 802,337 shares of the financial services provider’s stock valued at $190,700,000 after buying an additional 89,616 shares during the period. Institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Stock Up 0.7 %

Shares of NYSE AMP opened at $341.00 on Wednesday. The firm’s 50-day simple moving average is $321.98 and its 200 day simple moving average is $290.96. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.60. Ameriprise Financial, Inc. has a 12-month low of $219.99 and a 12-month high of $343.72.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.61. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $5.91 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 24.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMP. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $340.00 to $345.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. UBS Group boosted their target price on shares of Ameriprise Financial from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, January 9th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $240.00 to $250.00 and gave the company an “underweight” rating in a research note on Friday, October 7th. StockNews.com downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $332.70.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Heather J. Melloh sold 165 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $332.63, for a total transaction of $54,883.95. Following the completion of the sale, the executive vice president now directly owns 3,188 shares of the company’s stock, valued at approximately $1,060,424.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, EVP Heather J. Melloh sold 165 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $332.63, for a total transaction of $54,883.95. Following the completion of the sale, the executive vice president now directly owns 3,188 shares of the company’s stock, valued at approximately $1,060,424.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James M. Cracchiolo sold 13,050 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $333.02, for a total value of $4,345,911.00. Following the completion of the sale, the chief executive officer now directly owns 160,597 shares of the company’s stock, valued at $53,482,012.94. The disclosure for this sale can be found here. In the last three months, insiders sold 29,737 shares of company stock valued at $9,796,822. 1.00% of the stock is currently owned by insiders.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.