Venture Visionary Partners LLC Acquires 203 Shares of Ameriprise Financial, Inc. $AMP

Venture Visionary Partners LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,073 shares of the financial services provider’s stock after buying an additional 203 shares during the period. Venture Visionary Partners LLC’s holdings in Ameriprise Financial were worth $8,045,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Kelly Financial Services LLC grew its stake in shares of Ameriprise Financial by 8.4% during the 2nd quarter. Kelly Financial Services LLC now owns 752 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 58 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $464,000. First County Bank CT grew its stake in shares of Ameriprise Financial by 29.9% during the 2nd quarter. First County Bank CT now owns 1,150 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 265 shares in the last quarter. Investment Advisory Services Inc. TX ADV bought a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $216,000. Finally, Patton Albertson Miller Group LLC boosted its holdings in shares of Ameriprise Financial by 1.6% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 13,968 shares of the financial services provider’s stock valued at $7,455,000 after buying an additional 215 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Finally, Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $544.50.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE AMP opened at $499.03 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The stock has a market capitalization of $47.04 billion, a P/E ratio of 15.53, a PEG ratio of 1.06 and a beta of 1.27. The stock’s fifty day moving average is $505.98 and its 200 day moving average is $502.28.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the business earned $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s payout ratio is currently 19.91%.

Ameriprise Financial 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.