Global Retirement Partners LLC Acquires 301 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Global Retirement Partners LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,732 shares of the financial services provider’s stock after purchasing an additional 301 shares during the period. Global Retirement Partners LLC’s holdings in Ameriprise Financial were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMP. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. Swedbank AB bought a new stake in Ameriprise Financial in the 1st quarter valued at about $108,938,000. Maj Invest Holding A S bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $98,742,000. AGF Management Ltd. boosted its holdings in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Ameriprise Financial by 18.8% in the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after purchasing an additional 111,973 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $523.16 on Friday. The company has a 50 day simple moving average of $457.59 and a 200 day simple moving average of $437.20. The stock has a market cap of $51.96 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial 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 sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Piper Sandler dropped 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 report on Friday, June 28th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group boosted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, Keefe, Bruyette & Woods upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $480.44.

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.