Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by United Community Bank

United Community Bank lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 409 shares of the financial services provider’s stock after acquiring an additional 35 shares during the period. United Community Bank’s holdings in Ameriprise Financial were worth $179,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMP. Retirement Group LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at approximately $28,000. Annapolis Financial Services LLC lifted its stake in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after buying an additional 65 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $32,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $34,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.3 %

Shares of NYSE:AMP traded up $1.10 during mid-day trading on Wednesday, hitting $434.39. The stock had a trading volume of 28,267 shares, compared to its average volume of 472,758. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $43.14 billion, a PE ratio of 14.75, a P/E/G ratio of 0.73 and a beta of 1.37. The company’s 50 day moving average is $431.28 and its 200-day moving average is $413.55.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the firm earned $7.25 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.36%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Morgan Stanley increased their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research note on Monday. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Piper Sandler cut their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $462.89.

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.