Montecito Bank & Trust boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,927 shares of the financial services provider’s stock after buying an additional 481 shares during the period. Montecito Bank & Trust’s holdings in Ameriprise Financial were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. State of Tennessee Treasury Department raised its position in Ameriprise Financial by 35.6% during the first quarter. State of Tennessee Treasury Department now owns 48,976 shares of the financial services provider’s stock valued at $6,274,000 after buying an additional 12,862 shares during the period. Palisade Asset Management LLC raised its position in Ameriprise Financial by 8.3% during the first quarter. Palisade Asset Management LLC now owns 4,160 shares of the financial services provider’s stock valued at $533,000 after buying an additional 320 shares during the period. Financial Counselors Inc. raised its position in Ameriprise Financial by 6.5% during the first quarter. Financial Counselors Inc. now owns 104,018 shares of the financial services provider’s stock valued at $13,325,000 after buying an additional 6,323 shares during the period. National Pension Service raised its position in Ameriprise Financial by 6.0% during the fourth quarter. National Pension Service now owns 180,301 shares of the financial services provider’s stock valued at $22,927,000 after buying an additional 10,160 shares during the period. Finally, Dubuque Bank & Trust Co. raised its position in Ameriprise Financial by 19.5% during the first quarter. Dubuque Bank & Trust Co. now owns 1,282 shares of the financial services provider’s stock valued at $164,000 after buying an additional 209 shares during the period. 80.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the company. ValuEngine lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Credit Suisse Group dropped their target price on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Morgan Stanley upped their target price on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. Argus started coverage on Ameriprise Financial in a research report on Friday, July 5th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada set a $147.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Ameriprise Financial currently has a consensus rating of “Buy” and an average target price of $173.56.
In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $150.38, for a total value of $775,960.80. Following the transaction, the executive vice president now directly owns 23,656 shares of the company’s stock, valued at approximately $3,557,389.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
AMP stock traded up $1.26 during mid-day trading on Tuesday, hitting $149.09. The stock had a trading volume of 553,147 shares, compared to its average volume of 917,189. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.88. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $153.91. The business’s fifty day moving average price is $148.90. The stock has a market cap of $19.94 billion, a PE ratio of 9.98 and a beta of 1.80.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.14. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 15.9 earnings per share for the current year.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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