2,576 Shares in Ameriprise Financial, Inc. $AMP Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,576 shares of the financial services provider’s stock, valued at approximately $1,182,000.

Other hedge funds also recently made changes to their positions in the company. SouthState Bank Corp grew its holdings in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Ameriprise Financial in the 1st quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $28,000. Fiduciary Financial Advisors purchased a new position in Ameriprise Financial in the 2nd quarter valued at about $30,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1%

NYSE:AMP opened at $561.04 on Thursday. 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 company has a market capitalization of $50.44 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The stock has a 50-day simple moving average of $523.27 and a 200 day simple moving average of $482.17.

Ameriprise Financial (NYSE:AMP) last announced 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 firm had revenue of $4.90 billion for 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%.Ameriprise Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.11 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial 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 transaction of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. The trade was a 41.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMP shares. Piper Sandler lifted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Zacks Research upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. 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 issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Ameriprise Financial Company 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.