iSAM Funds UK Ltd Purchases Shares of 1,720 Ameriprise Financial, Inc. $AMP

iSAM Funds UK Ltd acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,720 shares of the financial services provider’s stock, valued at approximately $789,000.

Other institutional investors have also modified their holdings of the company. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the last quarter. Twin Lakes Capital Management LLC purchased a new stake in Ameriprise Financial in the second quarter valued at $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial in the first quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the second quarter valued at $28,000. Finally, Fiduciary Financial Advisors acquired a new position in Ameriprise Financial in the second quarter valued at $30,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.7%

Shares of NYSE:AMP opened at $551.68 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. 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 stock has a market cap of $49.60 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.97 and a beta of 1.14. The firm has a fifty day moving average price of $531.85 and a 200 day moving average price of $483.74.

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, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. 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 business posted $9.11 earnings per share. Ameriprise Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a dividend of $1.70 per share. The ex-dividend date of this dividend 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 currently 16.40%.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Piper Sandler raised their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Morgan Stanley boosted their target price on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Zacks Research raised 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 given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.