Kingsview Wealth Management LLC Makes New Investment in Ameriprise Financial, Inc. $AMP

Kingsview Wealth Management LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,090 shares of the financial services provider’s stock, valued at approximately $6,005,000.

Several other institutional investors have also modified their holdings of AMP. Beacon Pointe Advisors LLC acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at approximately $2,371,000. Kimelman & Baird LLC acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $92,000. Pin Oak Investment Advisors Inc. acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $343,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Ameriprise Financial in the second quarter valued at approximately $9,363,000. Finally, Twin Lakes Capital Management LLC bought a new position in Ameriprise Financial in the second quarter valued at approximately $25,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 11,012 shares of the firm’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 transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 472 shares of Ameriprise Financial stock in a transaction on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. 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 report on Friday, July 10th. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Two 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 issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Trading Up 0.7%

NYSE AMP opened at $559.79 on Friday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $572.56. 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 stock’s 50 day moving average price is $526.87 and its two-hundred day moving average price is $482.80. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.75 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share 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 analysts’ expectations of $4.87 billion. During the same period last year, the business earned $9.11 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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 yield of 1.2%. Ameriprise Financial’s dividend payout ratio 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.