Great Lakes Retirement Inc. Has $3.41 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Great Lakes Retirement Inc. increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the third quarter, Holdings Channel.com reports. The firm owned 7,249 shares of the financial services provider’s stock after buying an additional 65 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Ameriprise Financial were worth $3,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Ameriprise Financial by 11.4% in the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 630 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Ameriprise Financial by 10.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 67 shares in the last quarter. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the first quarter valued at about $32,000. Aspiriant LLC boosted its stake in shares of Ameriprise Financial by 16.6% during the first quarter. Aspiriant LLC now owns 946 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 135 shares in the last quarter. Finally, Revolve Wealth Partners LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth about $204,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’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 completion of the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $520.47 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35. The company’s fifty day simple moving average is $464.19 and its 200 day simple moving average is $439.06. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $524.89.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) 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 period in the previous year, the business earned $7.44 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMP. UBS Group raised their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $480.44.

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.