OneAscent Financial Services LLC Makes New $515,000 Investment in Ameriprise Financial, Inc. $AMP

OneAscent Financial Services LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,123 shares of the financial services provider’s stock, valued at approximately $515,000.

Other institutional investors also recently modified their holdings of the company. Paralel Advisors LLC acquired a new stake in shares of Ameriprise Financial in the second quarter worth $2,387,000. Allworth Financial LP bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $1,536,000. Greenspring Advisors LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at $299,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Ameriprise Financial in the 2nd quarter valued at $10,301,000. Finally, TrinityBridge Ltd bought a new position in Ameriprise Financial in the 2nd quarter worth $97,269,000. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president owned 3,373 shares of the company’s stock, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods raised 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. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. 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 report on Friday, July 10th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. 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. According to MarketBeat, Ameriprise Financial currently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Down 2.2%

Shares of AMP stock opened at $547.54 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The firm’s fifty day simple moving average is $515.71 and its 200 day simple moving average is $481.47. The firm has a market capitalization of $49.22 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating 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 firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the company earned $9.11 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Ameriprise Financial 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.