NEOS Investment Management LLC Has $6.55 Million Holdings in Ameriprise Financial, Inc. $AMP

NEOS Investment Management LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,284 shares of the financial services provider’s stock after acquiring an additional 1,633 shares during the quarter. NEOS Investment Management LLC’s holdings in Ameriprise Financial were worth $6,553,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMP. EP Wealth Advisors LLC bought a new position in Ameriprise Financial in the 2nd quarter worth $1,704,000. National Pension Service grew its position in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares during the last quarter. KBC Group NV increased its stake in shares of Ameriprise Financial by 43.7% in the second quarter. KBC Group NV now owns 215,126 shares of the financial services provider’s stock worth $98,691,000 after purchasing an additional 65,400 shares during the period. LSV Asset Management lifted its position in shares of Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after purchasing an additional 3,548 shares during the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $485,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.9%

NYSE AMP opened at $559.88 on Friday. The stock has a market capitalization of $50.33 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week 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 of $536.22 and a 200-day moving average of $484.91.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $9.11 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Insider Buying and Selling at Ameriprise Financial

In related news, SVP Dawn Brockman sold 472 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Walter Berman sold 11,012 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,988 shares of company stock worth $16,316,497 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.