405 Shares in Ameriprise Financial, Inc. $AMP Bought by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 405 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after purchasing an additional 266,631 shares during the last quarter. Nuveen LLC purchased a new position in Ameriprise Financial during the 1st quarter worth $469,334,000. Finally, Royal Bank of Canada grew its position in Ameriprise Financial by 1.1% during the 1st quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock worth $354,870,000 after purchasing an additional 7,840 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.5%

Shares of NYSE AMP opened at $482.04 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50-day moving average price of $499.90 and a 200 day moving average price of $501.72. The stock has a market capitalization of $45.44 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the business earned $8.72 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Raymond James Financial raised their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. Evercore ISI lowered their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Finally, BMO Capital Markets assumed coverage on shares of Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell 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 $539.50.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

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.