Wedbush Securities Inc. Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Wedbush Securities Inc. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,476 shares of the financial services provider’s stock after purchasing an additional 39 shares during the quarter. Wedbush Securities Inc.’s holdings in Ameriprise Financial were worth $631,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $514,539,000. TD Asset Management Inc raised its position 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 worth $310,248,000 after purchasing an additional 111,973 shares during the period. Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Piper Sandler lowered their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Morgan Stanley cut their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Down 0.1 %

Shares of NYSE AMP opened at $435.16 on Friday. The firm has a fifty day simple moving average of $428.28 and a two-hundred day simple moving average of $426.70. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $43.22 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $7.44 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.15%.

Ameriprise Financial 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.