1,336 Shares in Ameriprise Financial, Inc. $AMP Bought by Strathmore Capital Advisors Inc.

Strathmore Capital Advisors Inc. purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,336 shares of the financial services provider’s stock, valued at approximately $706,000.

Several other institutional investors have also bought and sold shares of AMP. SouthState Bank Corp increased its holdings in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $32,000. Finally, Prosperity Bancshares Inc purchased a new position in Ameriprise Financial in the fourth quarter worth about $33,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods boosted their target price 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, Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Trading Down 0.3%

Shares of AMP opened at $560.71 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a 50-day moving average of $513.75 and a 200 day moving average of $481.33. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick 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 (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $9.11 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider owned 6,780 shares of the company’s stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This trade represents a 41.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,988 shares of company stock worth $16,316,497 over the last three months. Company insiders own 0.60% of the company’s stock.

About Ameriprise Financial

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.