Kingsview Wealth Management LLC Acquires New Holdings in Ameriprise Financial, Inc. $AMP

Kingsview Wealth Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,090 shares of the financial services provider’s stock, valued at approximately $6,005,000.

A number of other hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after acquiring an additional 10,782 shares during the period. National Pension Service increased its position in Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares during the period. LSV Asset Management increased its position in Ameriprise Financial by 1.3% in the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after purchasing an additional 3,548 shares during the period. Ausdal Financial Partners Inc. bought a new stake in Ameriprise Financial during the 2nd quarter worth about $485,000. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Ameriprise Financial during the 4th quarter worth about $72,050,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Piper Sandler increased 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. Finally, Morgan Stanley raised their price objective 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. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Insider Activity

In related news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,988 shares of company stock worth $16,316,497 over the last quarter. 0.60% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.7%

NYSE AMP opened at $559.79 on Friday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The stock has a 50-day simple moving average of $526.87 and a 200 day simple moving average of $482.80. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $50.33 billion, a PE ratio of 13.50, a P/E/G ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its 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 analysts’ expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $9.11 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current 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 of this dividend 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 presently 16.40%.

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.