Ameriprise Financial, Inc. $AMP Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 87.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,263 shares of the financial services provider’s stock after acquiring an additional 2,917 shares during the period. Waverly Advisors LLC’s holdings in Ameriprise Financial were worth $2,873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bank OZK boosted its holdings in shares of Ameriprise Financial by 10.3% during the second quarter. Bank OZK now owns 7,394 shares of the financial services provider’s stock worth $3,392,000 after purchasing an additional 688 shares during the last quarter. Empirical Finance LLC lifted its position in Ameriprise Financial by 2.9% during the second quarter. Empirical Finance LLC now owns 3,632 shares of the financial services provider’s stock worth $1,666,000 after buying an additional 102 shares during the period. Nykredit A S acquired a new stake in Ameriprise Financial in the 2nd quarter worth about $16,207,000. Allianz Asset Management GmbH increased its stake in shares of Ameriprise Financial by 32.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 108,436 shares of the financial services provider’s stock valued at $49,746,000 after acquiring an additional 26,667 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Ameriprise Financial during the 2nd quarter valued at about $1,147,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings raised Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 3rd. Finally, Piper Sandler lifted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Up 0.7%

NYSE AMP opened at $557.22 on Friday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company’s 50 day moving average price is $544.61 and its 200 day moving average price is $487.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $50.09 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 0.99 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm earned $9.11 earnings per share. Ameriprise Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced 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 was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial’s payout ratio is presently 16.40%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Berman sold 11,012 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,079,060.55. This trade represents a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Williams sold 8,210 shares of the business’s stock in a transaction dated 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 owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock valued at $16,316,497 in the last quarter. Company insiders own 0.60% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc (NYSE: AMP) is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.