Ameriprise Financial, Inc. $AMP Shares Bought by Todd Asset Management LLC

Todd Asset Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,063 shares of the financial services provider’s stock after purchasing an additional 1,773 shares during the quarter. Todd Asset Management LLC owned 0.09% of Ameriprise Financial worth $37,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC grew its position in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 634 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new position in Ameriprise Financial in the 2nd quarter valued at $313,000. Finally, Gabelli Funds LLC raised its position in Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after buying an additional 2,922 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on AMP shares. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.1%

NYSE:AMP opened at $570.06 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day moving average price of $507.03 and a two-hundred day moving average price of $480.30. The stock has a market capitalization of $51.25 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $9.11 earnings per share. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s payout ratio is currently 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.