Creative Planning Acquires 487 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Creative Planning increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,223 shares of the financial services provider’s stock after acquiring an additional 487 shares during the quarter. Creative Planning’s holdings in Ameriprise Financial were worth $9,493,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its position in shares of Ameriprise Financial by 1.4% during the 4th quarter. Eagle Asset Management Inc. now owns 9,510 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 133 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Ameriprise Financial by 65.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 2,168 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 854 shares during the period. NEOS Investment Management LLC increased its holdings in shares of Ameriprise Financial by 87.9% during the fourth quarter. NEOS Investment Management LLC now owns 1,434 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 671 shares in the last quarter. Rafferty Asset Management LLC grew its position in Ameriprise Financial by 4.2% in the 4th quarter. Rafferty Asset Management LLC now owns 35,875 shares of the financial services provider’s stock valued at $13,626,000 after purchasing an additional 1,447 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Ameriprise Financial by 1.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 213,868 shares of the financial services provider’s stock valued at $81,234,000 after purchasing an additional 3,184 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMP shares. UBS Group decreased their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler reduced their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $463.00.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.7 %

AMP opened at $473.26 on Wednesday. The company’s 50-day moving average price is $436.17 and its two-hundred day moving average price is $431.27. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $476.18. The stock has a market cap of $47.01 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.80 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company earned $7.44 earnings per share. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

About Ameriprise Financial

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.