Natixis Acquires 11,975 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Natixis boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 164.2% during the 1st quarter, Holdings Channel reports. The fund owned 19,267 shares of the financial services provider’s stock after buying an additional 11,975 shares during the period. Natixis’ holdings in Ameriprise Financial were worth $8,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $32,000. Annapolis Financial Services LLC boosted its holdings in shares of Ameriprise Financial by 928.6% in the 1st 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 in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $34,000. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

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

Analysts Set New Price Targets

Several brokerages recently commented on AMP. Argus increased their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Piper Sandler decreased 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. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $462.89.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $17.42 during trading on Thursday, hitting $441.67. 780,977 shares of the stock traded hands, compared to its average volume of 489,316. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $43.87 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.66 and a beta of 1.37. The company has a fifty day moving average price of $431.72 and a two-hundred day moving average price of $417.11. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $449.94.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $7.44 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.91 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.