SG Americas Securities LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 92.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,595 shares of the financial services provider’s stock after purchasing an additional 5,580 shares during the period. SG Americas Securities LLC’s holdings in Ameriprise Financial were worth $2,921,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Ameriprise Financial during the 1st quarter valued at $53,000. Synovus Financial Corp increased its position in shares of Ameriprise Financial by 2.9% in the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 56 shares in the last quarter. Aviva PLC boosted its position in Ameriprise Financial by 23.7% during the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock valued at $13,523,000 after purchasing an additional 8,625 shares during the last quarter. Prudential PLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $724,000. Finally, Cetera Investment Advisers increased its holdings in Ameriprise Financial by 62.5% in the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock worth $871,000 after buying an additional 1,115 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Morgan Stanley increased their price target on Ameriprise Financial from $340.00 to $345.00 and gave the company an “equal weight” rating in a report on Tuesday. Piper Sandler increased their price objective on Ameriprise Financial from $240.00 to $250.00 and gave the company an “underweight” rating in a research report on Friday, October 7th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $290.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 23rd. StockNews.com lowered Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th. Finally, UBS Group raised their target price on Ameriprise Financial from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $332.70.
Ameriprise Financial Stock Performance
Ameriprise Financial stock opened at $331.17 on Friday. Ameriprise Financial, Inc. has a 12-month low of $219.99 and a 12-month high of $339.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.60. The business’s 50-day moving average price is $320.12 and its two-hundred day moving average price is $284.99. The stock has a market cap of $35.24 billion, a PE ratio of 13.81, a P/E/G ratio of 0.64 and a beta of 1.46.
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $6.43 EPS for the quarter, beating the consensus estimate of $5.82 by $0.61. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the business posted $5.91 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 24.56 earnings per share for the current fiscal year.
Ameriprise Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, November 4th. Ameriprise Financial’s payout ratio is currently 20.85%.
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,983 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total value of $3,928,147.23. Following the completion of the transaction, the chief financial officer now owns 10,751 shares in the company, valued at approximately $3,524,285.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James M. Cracchiolo sold 13,050 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total transaction of $4,345,911.00. Following the completion of the transaction, the chief executive officer now owns 160,597 shares in the company, valued at approximately $53,482,012.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 11,983 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total value of $3,928,147.23. Following the transaction, the chief financial officer now owns 10,751 shares of the company’s stock, valued at approximately $3,524,285.31. The disclosure for this sale can be found here. In the last three months, insiders sold 29,737 shares of company stock valued at $9,796,822. 1.00% of the stock is owned by insiders.
Ameriprise Financial Profile
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Ameriprise Financial, Inc, through 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.
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