Revolve Wealth Partners LLC Purchases New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Revolve Wealth Partners LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 790 shares of the financial services provider’s stock, valued at approximately $371,000.

Other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC increased its stake in Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares in the last quarter. BDF Gestion purchased a new position in Ameriprise Financial in the 2nd quarter worth about $2,836,000. Janney Montgomery Scott LLC increased its stake in Ameriprise Financial by 12.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock worth $8,242,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Ameriprise Financial in the 1st quarter worth about $570,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.3 %

AMP opened at $523.16 on Friday. The business has a 50 day moving average price of $457.59 and a 200 day moving average price of $437.23. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $524.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $51.96 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping 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 firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company earned $7.44 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.13%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMP shares. 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 lifted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given 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 an average rating of “Hold” and an average price target of $480.44.

Insiders Place Their Bets

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

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.