Jupiter Topco LLC Buys New Position in Ameriprise Financial, Inc. $AMP

Jupiter Topco LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,860 shares of the financial services provider’s stock, valued at approximately $5,435,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Bank Corp boosted its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Ameriprise Financial during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial in the second quarter worth approximately $28,000. Fiduciary Financial Advisors acquired a new stake in Ameriprise Financial in the second quarter worth approximately $30,000. Finally, Prosperity Bancshares Inc bought a new position in Ameriprise Financial during the 4th quarter valued at $33,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $554.01 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The business’s fifty day moving average is $528.53 and its two-hundred day moving average is $482.75. The stock has a market capitalization of $49.81 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last released 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. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $9.11 EPS. On average, research analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on AMP. Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.