Eagle Bay Advisors LLC Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Eagle Bay Advisors LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 771.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 427 shares of the financial services provider’s stock after purchasing an additional 378 shares during the period. Eagle Bay Advisors LLC’s holdings in Ameriprise Financial were worth $182,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Empirical Finance LLC lifted its position in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after acquiring an additional 73 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ameriprise Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after acquiring an additional 4,203 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $775,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Ameriprise Financial by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after acquiring an additional 8,693 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler cut their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods cut their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Finally, UBS Group cut their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded down $2.06 during midday trading on Tuesday, reaching $439.33. The company’s stock had a trading volume of 263,697 shares, compared to its average volume of 482,962. The firm has a market capitalization of $43.64 billion, a PE ratio of 14.95, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The stock has a fifty day moving average of $427.07 and a 200 day moving average of $423.24. 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 released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business earned $7.44 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial Profile

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.