Burney Co. Acquires 756 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Burney Co. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,037 shares of the financial services provider’s stock after acquiring an additional 756 shares during the quarter. Burney Co.’s holdings in Ameriprise Financial were worth $3,962,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AMP. Norges Bank bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $514,539,000. JPMorgan Chase & Co. raised its holdings 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 valued at $1,685,436,000 after buying an additional 603,267 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Ameriprise Financial by 1,001.2% during the 4th quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after buying an additional 512,884 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Ameriprise Financial by 151.5% during the 4th quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after buying an additional 358,780 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at about $108,938,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 3.8 %

Shares of AMP traded down $15.75 during mid-day trading on Friday, hitting $402.61. 679,597 shares of the company’s stock traded hands, compared to its average volume of 551,653. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $449.94. The firm has a market capitalization of $39.99 billion, a P/E ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37. The business’s 50-day moving average price is $430.64 and its 200-day moving average price is $419.26.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm earned $7.44 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.77 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity at Ameriprise Financial

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 stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMP. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Argus raised their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $464.33.

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.