Cetera Trust Company N.A Acquires Shares of 1,050 Ameriprise Financial, Inc. $AMP

Cetera Trust Company N.A acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,050 shares of the financial services provider’s stock, valued at approximately $482,000.

Several other hedge funds also recently made changes to their positions in the company. Aberdeen Wealth Management LLC purchased a new position in Ameriprise Financial in the second quarter worth $177,000. Algert Global LLC acquired a new stake in Ameriprise Financial in the second quarter valued at $1,046,000. Winmill & CO. Inc. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $10,088,000. Cibc World Market Inc. purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth $566,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth $31,976,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, SVP Dawn M. Brockman sold 472 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total value of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,079,060.55. This represents a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley lifted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Piper Sandler upped 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 research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Stock Up 1.0%

AMP stock opened at $561.00 on Tuesday. The company’s 50 day simple moving average is $519.69 and its 200-day simple moving average is $481.87. The firm has a market capitalization of $50.43 billion, a PE ratio of 13.53, a P/E/G ratio of 0.74 and a beta of 1.14. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last issued 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 return on equity of 64.19% and a net margin of 20.24%.The firm 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 posted $9.11 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 3rd were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.