Ieq Capital LLC Purchases Shares of 29,551 Ameriprise Financial, Inc. $AMP

Ieq Capital LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,551 shares of the financial services provider’s stock, valued at approximately $13,557,000.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. State Street Corp increased its holdings in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock valued at $2,171,360,000 after acquiring an additional 18,879 shares during the last quarter. Norges Bank purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $742,438,000. Boston Partners lifted its stake in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Ameriprise Financial by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,024,758 shares of the financial services provider’s stock valued at $455,387,000 after purchasing an additional 19,731 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of several recent analyst reports. Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler upped their target price 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. 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, 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Stock Up 1.7%

Shares of NYSE AMP opened at $556.56 on Friday. The stock has a market cap of $50.03 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $572.56. The business has a 50-day moving average price of $517.67 and a 200 day moving average price of $482.00.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.11 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were given a dividend of $1.70 per share. 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%.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial 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. The trade was a 39.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Jerryl Williams sold 8,210 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the completion of the sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by insiders.

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.