Heartland Bank & Trust Co Buys 24 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Heartland Bank & Trust Co lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,755 shares of the financial services provider’s stock after acquiring an additional 24 shares during the quarter. Ameriprise Financial makes up approximately 0.7% of Heartland Bank & Trust Co’s holdings, making the stock its 29th biggest position. Heartland Bank & Trust Co’s holdings in Ameriprise Financial were worth $1,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. raised its stake in Ameriprise Financial by 268.8% during the 2nd 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 period. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial in the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC boosted its stake 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. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AMP. UBS Group lowered their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler dropped their price objective 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. Morgan Stanley reduced their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $463.00.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction 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 Trading Up 0.3 %

Shares of AMP stock opened at $469.81 on Tuesday. The company has a market cap of $46.66 billion, a PE ratio of 15.99, a price-to-earnings-growth 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’s 50 day simple moving average is $435.13 and its two-hundred day simple moving average is $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 released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.44 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.