Hilltop Partners LLC Has $1.33 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Hilltop Partners LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,122 shares of the financial services provider’s stock after selling 49 shares during the quarter. Hilltop Partners LLC’s holdings in Ameriprise Financial were worth $1,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMP. Financial Counselors Inc. boosted its stake in Ameriprise Financial by 1.0% during the 2nd quarter. Financial Counselors Inc. now owns 122,142 shares of the financial services provider’s stock valued at $52,178,000 after purchasing an additional 1,228 shares during the period. Equitable Trust Co. boosted its position in shares of Ameriprise Financial by 2.4% in the second quarter. Equitable Trust Co. now owns 14,628 shares of the financial services provider’s stock valued at $6,249,000 after acquiring an additional 336 shares during the period. Drive Wealth Management LLC grew its stake in shares of Ameriprise Financial by 3.1% in the second quarter. Drive Wealth Management LLC now owns 909 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 27 shares during the last quarter. Valmark Advisers Inc. bought a new position in Ameriprise Financial during the second quarter worth $251,000. Finally, Summit Financial LLC raised its stake in Ameriprise Financial by 84.5% during the 2nd quarter. Summit Financial LLC now owns 6,237 shares of the financial services provider’s stock valued at $2,664,000 after purchasing an additional 2,856 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley lowered their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Trading Up 1.5 %

AMP opened at $449.44 on Monday. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35. The stock has a market capitalization of $44.64 billion, a PE ratio of 15.30, a PEG ratio of 0.78 and a beta of 1.37. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $427.33 and a two-hundred day moving average price of $424.61.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $7.44 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.32%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

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.