Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Marcum Wealth LLC

Marcum Wealth LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 565 shares of the financial services provider’s stock after buying an additional 39 shares during the quarter. Marcum Wealth LLC’s holdings in Ameriprise Financial were worth $241,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Empirical Finance LLC raised its holdings in Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares in the last quarter. Venture Visionary Partners LLC grew its position in Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after buying an additional 416 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Ameriprise Financial by 0.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after acquiring an additional 73 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Ameriprise Financial by 3.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after acquiring an additional 4,203 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after buying an additional 22,487 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $11.26 during trading hours on Monday, reaching $391.35. The company’s stock had a trading volume of 722,186 shares, compared to its average volume of 491,323. The firm’s 50 day simple moving average is $430.64 and its 200-day simple moving average is $419.91. The company has a market capitalization of $38.87 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $7.44 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. UBS Group cut their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $464.33.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc, together with 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.