Greenleaf Trust Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Greenleaf Trust grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,901 shares of the financial services provider’s stock after buying an additional 30 shares during the period. Greenleaf Trust’s holdings in Ameriprise Financial were worth $2,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empirical Finance LLC boosted its position in Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 8,693 shares during the period. BDF Gestion purchased a new position in Ameriprise Financial in the 2nd quarter valued at approximately $2,836,000. Janney Montgomery Scott LLC raised its holdings in Ameriprise Financial by 12.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after acquiring an additional 2,139 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth $570,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the 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 transaction, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Piper Sandler reduced their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. UBS Group increased their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $520.47 on Thursday. Ameriprise Financial, Inc. has a one year low of $306.63 and a one 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. The firm has a market capitalization of $51.70 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35. The company’s fifty day moving average price is $464.19 and its 200-day moving average price is $439.06.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $7.44 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.14%. Ameriprise Financial’s dividend payout ratio is 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.