United Community Bank Acquires 35 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

United Community Bank boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 409 shares of the financial services provider’s stock after buying an additional 35 shares during the period. United Community Bank’s holdings in Ameriprise Financial were worth $179,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. Annapolis Financial Services LLC increased its holdings in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares during the period. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the first quarter worth $32,000. Finally, Benjamin Edwards Inc. bought a new stake in Ameriprise Financial during the 1st quarter valued at $34,000. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMP. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler lowered their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Price Performance

Ameriprise Financial stock traded up $1.10 during trading on Wednesday, reaching $434.39. The company had a trading volume of 28,267 shares, compared to its average volume of 472,758. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day simple moving average is $431.28 and its 200 day simple moving average is $413.55. The firm has a market capitalization of $43.14 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $446.32.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.25 EPS. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.