1,994 Shares in Ameriprise Financial, Inc. $AMP Bought by Global Retirement Partners LLC

Global Retirement Partners LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,994 shares of the financial services provider’s stock, valued at approximately $915,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. EPG Wealth Management LLC boosted its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. raised its position in Ameriprise Financial by 3.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares in the last quarter. Essex Financial Services Inc. raised its position in Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 21 shares in the last quarter. SouthState Bank Corp lifted its stake in 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 period. Finally, Geneos Wealth Management Inc. lifted its stake in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $562.89 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. The firm has a market cap of $50.60 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company’s 50-day moving average price is $511.57 and its two-hundred day moving average price is $481.04.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the business posted $9.11 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be given a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio is 16.40%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several analyst reports. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley boosted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group increased their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Company 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.