Greenleaf Trust Has $2.30 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Greenleaf Trust raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,901 shares of the financial services provider’s stock after buying an additional 30 shares during the quarter. Greenleaf Trust’s holdings in Ameriprise Financial were worth $2,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares during the period. Legal & General Group Plc boosted its position in shares of Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. grew its stake in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after buying an additional 131,844 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AMP. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler reduced their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $480.44.

Ameriprise Financial Stock Up 0.2 %

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 stock has a market cap of $51.70 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $524.89. The firm’s 50-day simple moving average is $464.19 and its 200 day simple moving average is $439.06.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion during 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%. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $7.44 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.14%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

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.