Old North State Trust LLC Purchases 79 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Old North State Trust LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,345 shares of the financial services provider’s stock after buying an additional 79 shares during the quarter. Old North State Trust LLC’s holdings in Ameriprise Financial were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Retirement Group LLC purchased a new position in Ameriprise Financial in the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc bought a new position in Ameriprise Financial during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the first quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC grew its position in Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.2 %

NYSE AMP opened at $468.62 on Monday. The company’s 50-day simple moving average is $434.13 and its two-hundred day simple moving average is $430.50. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $471.57. The company has a market capitalization of $46.55 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share 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 company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the company earned $7.44 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Transactions at Ameriprise Financial

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

Analysts Set New Price Targets

A number of research firms have issued reports on AMP. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $485.00 to $476.00 in a research note on Thursday. Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler reduced their target price 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. UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods decreased 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $463.00.

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.