Great Diamond Partners LLC Has $3.31 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

30 Oct 2024, 08:40 by Amy Steele · The Cerbat Gem

Great Diamond Partners LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,034 shares of the financial services provider’s stock after selling 782 shares during the quarter. Great Diamond Partners LLC’s holdings in Ameriprise Financial were worth $3,305,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMP. Allspring Global Investments Holdings LLC lifted its position in Ameriprise Financial by 188.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock valued at $12,565,000 after acquiring an additional 18,722 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $253,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the first quarter valued at approximately $28,000. Norden Group LLC bought a new stake in Ameriprise Financial during the first quarter worth $3,288,000. Finally, Wealthstar Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at $210,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE AMP opened at $516.31 on Wednesday. The company’s 50 day moving average is $470.44 and its 200-day moving average is $441.52. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $311.11 and a 12-month high of $524.89. The firm has a market cap of $50.70 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.15%. Ameriprise Financial’s payout ratio is 22.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday. UBS Group lifted their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $487.67.

Read Our Latest Research Report on AMP

Insider Activity

In other news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Company Profile

(Free Report)