Glenview Trust Co Buys Shares of 14,793 Ameriprise Financial, Inc. $AMP

Glenview Trust Co acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 14,793 shares of the financial services provider’s stock, valued at approximately $6,786,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $28,000. Fiduciary Financial Advisors bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $30,000. Finally, Prosperity Bancshares Inc bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, CFO Walter Stanley Berman sold 11,012 shares of Ameriprise Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s 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 completion of the sale, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Morgan Stanley raised their price target 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. Piper Sandler increased their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Jefferies Financial Group increased their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $556.15 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day moving average of $525.04 and a 200-day moving average of $482.26. The company has a market cap of $50.00 billion, a PE ratio of 13.41, a P/E/G ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

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

Ameriprise Financial Dividend Announcement

The company 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. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio is presently 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.