Driehaus Capital Management LLC Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Driehaus Capital Management LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 597 shares of the financial services provider’s stock after acquiring an additional 131 shares during the quarter. Driehaus Capital Management LLC’s holdings in Ameriprise Financial were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several brokerages have commented on AMP. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Piper Sandler reduced their target price 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. Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley cut their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $463.00.

Ameriprise Financial Stock Up 0.3 %

Shares of AMP opened at $469.81 on Tuesday. The firm has a market cap 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. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $471.57. The stock has a 50 day simple moving average of $435.13 and a two-hundred day simple moving average of $430.89. 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 issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $7.44 EPS. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued 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 presently 20.15%.

Insider Buying and Selling

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 stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

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.