New Century Financial Group LLC Has $617,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

New Century Financial Group LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 129.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,445 shares of the financial services provider’s stock after buying an additional 814 shares during the quarter. New Century Financial Group LLC’s holdings in Ameriprise Financial were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. increased its position in Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its stake in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price objective 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. Morgan Stanley cut their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, UBS Group lowered their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $463.00.

Ameriprise Financial Stock Performance

NYSE AMP opened at $469.81 on Tuesday. The firm has a 50-day moving average price of $435.13 and a two-hundred day moving average price of $430.89. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $471.57. The company has a market capitalization of $46.66 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.80 and a beta of 1.35. 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 (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) 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 analysts’ expectations of $4.24 billion. During the same period in the previous year, the company posted $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Ameriprise Financial Company Profile

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.