Crossmark Global Holdings Inc. Acquires 3,199 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Crossmark Global Holdings Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 24.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,498 shares of the financial services provider’s stock after acquiring an additional 3,199 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ameriprise Financial were worth $7,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at about $514,539,000. Dimensional Fund Advisors LP raised its holdings in Ameriprise Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after acquiring an additional 35,931 shares during the period. TD Asset Management Inc lifted its position in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Ameriprise Financial by 5.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after acquiring an additional 32,312 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Argus lifted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Piper Sandler decreased their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Trading Up 1.4 %

AMP traded up $6.29 during trading on Friday, reaching $449.26. 463,756 shares of the company’s stock were exchanged, compared to its average volume of 482,090. The firm has a fifty day moving average price of $427.17 and a two-hundred day moving average price of $423.78. The stock has a market capitalization of $44.62 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $450.35. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16.

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

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.