306 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Paladin Wealth LLC

Paladin Wealth LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 306 shares of the financial services provider’s stock, valued at approximately $144,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heartland Bank & Trust Co raised its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock valued at $1,177,000 after buying an additional 24 shares during the last quarter. Portside Wealth Group LLC boosted its position in Ameriprise Financial by 3.7% in the second quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 25 shares during the last quarter. Signaturefd LLC grew its stake in shares of Ameriprise Financial by 1.1% during the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 26 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Ameriprise Financial by 0.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 26 shares during the last quarter. Finally, Aua Capital Management LLC lifted its stake in shares of Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 27 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. UBS Group increased their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley decreased their target price on 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. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $473.56.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $504.53 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $504.82. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average is $448.00 and its 200 day moving average is $434.91. The company has a market cap of $50.11 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $7.44 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

About Ameriprise Financial

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.