United Services Automobile Association Purchases Shares of 10,486 Ameriprise Financial, Inc. (NYSE:AMP)

United Services Automobile Association acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,486 shares of the financial services provider’s stock, valued at approximately $4,480,000.

Several other hedge funds also recently modified their holdings of AMP. Private Advisor Group LLC increased its position in shares of Ameriprise Financial by 10.5% during the fourth quarter. Private Advisor Group LLC now owns 6,120 shares of the financial services provider’s stock worth $2,324,000 after acquiring an additional 583 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Ameriprise Financial by 113.0% during the 4th quarter. BNP Paribas Financial Markets now owns 106,780 shares of the financial services provider’s stock worth $40,558,000 after purchasing an additional 56,648 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Ameriprise Financial by 31.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,334 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 561 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Ameriprise Financial by 52.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 48 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $2,342,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on 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 $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $430.17 on Monday. The business has a 50 day moving average of $428.01 and a 200 day moving average of $426.15. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $450.35. The company has a market cap of $42.24 billion, a PE ratio of 14.64, a P/E/G ratio of 0.74 and a beta of 1.35. 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 (NYSE:AMP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

Analyst Ratings Changes

AMP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Piper Sandler dropped their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $464.33.

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.