Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Virtu Financial LLC

Virtu Financial LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,609 shares of the financial services provider’s stock after purchasing an additional 1,559 shares during the quarter. Virtu Financial LLC’s holdings in Ameriprise Financial were worth $3,250,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Portside Wealth Group LLC boosted its stake in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 25 shares in the last quarter. Signaturefd LLC increased its position in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 26 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 26 shares during the last quarter. Aua Capital Management LLC boosted its position in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after buying an additional 27 shares in the last quarter. Finally, Gratus Wealth Advisors LLC increased its holdings in Ameriprise Financial by 1.5% during the 1st quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMP. Morgan Stanley reduced their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada lifted 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. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Finally, UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One equities 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 stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $464.33.

Insider Activity

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 transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $445.14 on Tuesday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $450.35. The firm has a market cap of $44.21 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.75 and a beta of 1.35. 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 company has a fifty day simple moving average of $428.80 and a 200 day simple moving average of $427.44.

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. The firm had revenue of $4.39 billion during 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% on a year-over-year basis. During the same quarter last year, the firm earned $7.44 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.33%. Ameriprise Financial’s payout ratio is 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.