Aristotle Atlantic Partners LLC Buys 1,163 Shares of Ameriprise Financial, Inc. $AMP

Aristotle Atlantic Partners LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 54,497 shares of the financial services provider’s stock after buying an additional 1,163 shares during the quarter. Aristotle Atlantic Partners LLC’s holdings in Ameriprise Financial were worth $24,218,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. PFG Investments LLC grew its holdings in Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after buying an additional 21 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 21 shares in the last quarter. EPG Wealth Management LLC boosted its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 21 shares during the last quarter. Essex Financial Services Inc. boosted its position in shares of Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 21 shares during the last quarter. Finally, SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 1.7%

NYSE AMP opened at $528.79 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.95 and a beta of 1.16. The company has a fifty day moving average of $476.19 and a two-hundred day moving average of $475.03.

Ameriprise Financial (NYSE:AMPGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $9.11 earnings per share. On average, analysts predict that Ameriprise Financial, Inc. will post 43.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is presently 16.40%.

Key Headlines Impacting Ameriprise Financial

Here are the key news stories impacting Ameriprise Financial this week:

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMP. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

Get Our Latest Report on Ameriprise Financial

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

About Ameriprise Financial

(Free Report)

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

Further Reading

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPFree Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.