Beverly Hills Private Wealth LLC Makes New $1.62 Million Investment in Ameriprise Financial, Inc. $AMP

Beverly Hills Private Wealth LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,524 shares of the financial services provider’s stock, valued at approximately $1,617,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC boosted its holdings in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC grew its stake in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after buying an additional 2,922 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% 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. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $570.06 on Monday. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.77 and a beta of 1.14. The stock has a fifty day simple moving average of $507.03 and a 200 day simple moving average of $480.15. 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 twelve month low of $422.37 and a twelve month high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the firm earned $9.11 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Two 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, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target 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.