Ameriprise Financial, Inc. $AMP Shares Acquired by Denali Advisors LLC

Denali Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 173.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,008 shares of the financial services provider’s stock after acquiring an additional 1,906 shares during the period. Denali Advisors LLC’s holdings in Ameriprise Financial were worth $1,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. NewEdge Wealth LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth $1,193,000. Empirical Asset Management LLC acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $652,000. Great Lakes Advisors LLC acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $3,522,000. Danske Bank A S purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $1,549,000. Finally, Diversify Advisory Services LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $1,228,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of 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 lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of Ameriprise Financial stock in a transaction on 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 $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.3%

AMP opened at $560.71 on Thursday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a market cap of $50.41 billion, a P/E 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 quick ratio of 0.71 and a current ratio of 0.71. The business’s 50-day simple moving average is $513.75 and its 200-day simple moving average is $481.33.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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 firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.11 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend 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 (DPR) 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.