Foguth Wealth Management LLC. Acquires Shares of 660 Ameriprise Financial, Inc. (NYSE:AMP)

Foguth Wealth Management LLC. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 660 shares of the financial services provider’s stock, valued at approximately $282,000.

Several other large investors have also bought and sold shares of AMP. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after buying an additional 603,267 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $514,539,000. Dimensional Fund Advisors LP increased its stake in Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after purchasing an additional 35,931 shares in the last quarter. TD Asset Management Inc increased its stake in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after purchasing an additional 111,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Ameriprise Financial by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 652,360 shares of the financial services provider’s stock worth $247,786,000 after purchasing an additional 32,312 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 1.0 %

Shares of NYSE:AMP traded up $3.88 during trading on Tuesday, hitting $408.42. 301,446 shares of the company were exchanged, compared to its average volume of 488,890. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The stock has a market cap of $40.57 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 0.73 and a beta of 1.37. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The firm has a fifty day moving average price of $426.06 and a two-hundred day moving average price of $420.58.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, August 5th. Ameriprise Financial’s payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Argus upped their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research 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 for the company in a research report on Friday, June 28th. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $464.33.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

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.