Cetera Advisors LLC Acquires 3,895 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cetera Advisors LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 55.6% in the first quarter, Holdings Channel.com reports. The fund owned 10,900 shares of the financial services provider’s stock after purchasing an additional 3,895 shares during the quarter. Cetera Advisors LLC’s holdings in Ameriprise Financial were worth $4,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Ameriprise Financial by 18.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after purchasing an additional 603,267 shares in the last quarter. Norges Bank acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $514,539,000. Dimensional Fund Advisors LP increased its position in shares of Ameriprise Financial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock worth $385,620,000 after purchasing an additional 35,931 shares in the last quarter. TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% during the 1st quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after purchasing an additional 111,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Ameriprise Financial by 5.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 3.8 %

Shares of NYSE:AMP traded down $15.75 during trading on Friday, hitting $402.61. 679,597 shares of the company’s stock were exchanged, compared to its average volume of 551,653. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $449.94. The firm has a 50-day moving average price of $430.64 and a two-hundred day moving average price of $419.58. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The firm has a market cap of $39.99 billion, a P/E ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Evercore ISI raised their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler lowered their price objective 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. UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $464.33.

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.