Ameriprise Financial, Inc. Shares (NYSE:AMP) acquired by Legal & General Group Plc

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Legal & General Group Plc raised its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,249 shares of the financial services provider’s stock after purchasing an additional 11,060 shares during the quarter. Legal & General Group Plc owned 0.83% of Ameriprise Financial worth $351,685,000 at the end of the most recent quarter.

Other large investors have recently bought and sold shares of the company. Empirical Finance LLC raised its position in shares of Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at approximately $775,000. State Board of Administration of Florida Retirement System raised its holdings in Ameriprise Financial by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the last quarter. BDF Gestion purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $2,836,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Ameriprise Financial by 12.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after purchasing an additional 2,139 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s shares.

Indoor activity

In related news, VP William Davies sold 8,700 shares of the business’s 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 transaction, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Corporate insiders own 0.73% of the company’s shares.

Analyst upgrades and downgrades

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A number of brokerages have recently commented on AMP. Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday. Morgan Stanley decreased their price objective 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. Piper Sandler cut their price target 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. UBS Group cut their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th . One 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. The stock currently has an average rating of “Hold” and a consensus price target of $463.00, based on data from MarketBeat.

Get the latest stock analysis on Ameriprise Financial

Ameriprise Financial Trading Up 0.2%

NYSE:AMP opened at $468.62 on Friday. The company has a market cap of $46.01 billion, a PE ratio of 15.95, a P/E/G ratio of 0.80 and a beta of 1.35. Ameriprise Financial, Inc. it has a 52-week low of $306.63 and a 52-week high of $471.57. The stock’s 50-day moving average price is $434.13 and its 200-day moving average price is $430.41. The company has a quick ratio of 0.59, a current ratio of 0.59, and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP – Get Free Report ) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (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 analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company posted earnings of $7.44 per share. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial announces dividend

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

About Ameriprise Financial

(Free report)

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, Pension & Protection Solutions and Corporate & Other.