Mascoma Wealth Management LLC Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mascoma Wealth Management LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 153.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66 shares of the financial services provider’s stock after acquiring an additional 40 shares during the period. Mascoma Wealth Management LLC’s holdings in Ameriprise Financial were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AMP. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. Finally, Bank & Trust Co purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $442.91 on Thursday. The company has a fifty day moving average price of $427.77 and a 200-day moving average price of $425.41. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $450.35. The company has a market capitalization of $43.99 billion, a P/E ratio of 15.08, a PEG ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate 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. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods dropped their price target on shares of 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. Finally, Morgan Stanley reduced their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $464.33.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

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.