Trifecta Capital Advisors LLC Acquires 1,163 Shares of Ameriprise Financial, Inc. $AMP

Trifecta Capital Advisors LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,107.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,268 shares of the financial services provider’s stock after acquiring an additional 1,163 shares during the period. Trifecta Capital Advisors LLC’s holdings in Ameriprise Financial were worth $677,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMP. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. Nuveen LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth about $469,334,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after acquiring an additional 266,631 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 78.6% in the 1st quarter. AQR Capital Management LLC now owns 430,767 shares of the financial services provider’s stock worth $202,869,000 after acquiring an additional 189,525 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 1.5%

NYSE AMP opened at $490.09 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The company’s 50-day simple moving average is $501.37 and its two-hundred day simple moving average is $502.07. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $8.72 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. BMO Capital Markets began coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $535.14.

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.