First Bank & Trust Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

26 Oct 2024, 12:25 by Renee Jackson · The Cerbat Gem

First Bank & Trust decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 848 shares of the financial services provider’s stock after selling 88 shares during the period. First Bank & Trust’s holdings in Ameriprise Financial were worth $398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $25,000. DiNuzzo Private Wealth Inc. increased its holdings in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Ameriprise Financial in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $28,000. Finally, Mascoma Wealth Management LLC increased its stake in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the topic of a number of analyst reports. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler decreased their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $482.11.

Get Our Latest Research Report on Ameriprise Financial

Ameriprise Financial Trading Up 0.1 %

AMP stock traded up $0.27 during midday trading on Friday, reaching $504.48. 430,001 shares of the company’s stock traded hands, compared to its average volume of 471,369. The business has a 50-day moving average price of $467.23 and a two-hundred day moving average price of $439.99. Ameriprise Financial, Inc. has a fifty-two week low of $307.57 and a fifty-two week high of $524.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $50.11 billion, a P/E ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 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 company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company posted $7.44 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Profile

(Free Report)