Capital World Investors Buys 32,930 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Capital World Investors raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 95.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,606 shares of the financial services provider’s stock after purchasing an additional 32,930 shares during the quarter. Capital World Investors owned 0.07% of Ameriprise Financial worth $29,641,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $28,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the first quarter valued at $32,000. Annapolis Financial Services LLC increased its stake in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after buying an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction 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 owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Argus raised their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Stock Performance

NYSE AMP opened at $439.54 on Friday. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94. The stock has a market cap of $43.66 billion, a PE ratio of 14.96, a P/E/G ratio of 0.69 and a beta of 1.37. The firm has a 50-day moving average of $431.95 and a 200-day moving average of $417.95. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $7.44 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.89 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.35%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial Company 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.