Old North State Trust LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,611 shares of the financial services provider's stock, valued at approximately $1,657,000.

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Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the period. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC increased its position in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Ameriprise Financial during the second quarter worth $313,000. Finally, Gabelli Funds LLC lifted its holdings in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after buying an additional 2,922 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an "underweight" rating in a research report on Friday, July 10th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $555.33.

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View Our Latest Report on Ameriprise Financial

Insiders Place Their Bets

In other news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares of the company's stock, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 11,012 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. The trade was a 66.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company's stock.

Ameriprise Financial Stock Down 0.7%

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NYSE AMP opened at $556.15 on Friday. The business has a fifty day moving average price of $525.04 and a two-hundred day moving average price of $482.26. The stock has a market capitalization of $50.00 billion, a PE ratio of 13.41, a PEG ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 16.40%.

Ameriprise Financial Profile

(Free Report)

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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