Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by BLB&B Advisors LLC

BLB&B Advisors LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969 shares of the financial services provider’s stock after purchasing an additional 46 shares during the period. BLB&B Advisors LLC’s holdings in Ameriprise Financial were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC purchased a new position in Ameriprise Financial in the first quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Ameriprise Financial by 268.8% during the 2nd 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 last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial during the second quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the first quarter valued at $28,000. Finally, Mascoma Wealth Management LLC raised its stake in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.2 %

Shares of Ameriprise Financial stock opened at $520.47 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $51.70 billion, a P/E ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The company’s fifty day moving average is $464.19 and its two-hundred day moving average is $439.06.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $7.44 earnings per share. Analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMP shares. UBS Group upped their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial Profile

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.