Northcape Wealth Management LLC Acquires Shares of 1,300 Ameriprise Financial, Inc. $AMP

Northcape Wealth Management LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,300 shares of the financial services provider’s stock, valued at approximately $596,000.

Several other large investors have also made changes to their positions in AMP. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after acquiring an additional 10,782 shares during the last quarter. National Pension Service raised its position in Ameriprise Financial by 8.2% in the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares during the last quarter. LSV Asset Management raised its position in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Ameriprise Financial in the fourth quarter worth $72,050,000. Finally, D.A. Davidson & CO. boosted its stake in Ameriprise Financial by 116.5% in the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock worth $6,561,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMP. Jefferies Financial Group raised their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Down 0.3%

Shares of NYSE AMP opened at $560.71 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The firm has a market capitalization of $50.41 billion, a P/E ratio of 13.52, a P/E/G 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. The company’s 50 day simple moving average is $513.75 and its 200 day simple moving average is $481.33.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business’s quarterly 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 EPS. On average, analysts predict that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid 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 dividend yield of 1.2%. Ameriprise Financial’s payout ratio is 16.40%.

Insider Buying and Selling

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the firm’s 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 transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $1,339,872.00. Following the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders sold 29,988 shares of company stock valued at $16,316,497 in the last three months. 0.60% of the stock is currently owned by company insiders.

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.