AE Wealth Management LLC Acquires 1,036 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

AE Wealth Management LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 45.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,336 shares of the financial services provider’s stock after purchasing an additional 1,036 shares during the quarter. AE Wealth Management LLC’s holdings in Ameriprise Financial were worth $840,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. Better Money Decisions LLC acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $28,000. ACG Wealth purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $30,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. boosted its position in shares of Ameriprise Financial by 106.6% during the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after buying an additional 65 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Ameriprise Financial by 365.7% during the second quarter. Allworth Financial LP now owns 163 shares of the financial services provider’s stock valued at $39,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMP shares. Morgan Stanley lifted their target price on Ameriprise Financial from $340.00 to $345.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Piper Sandler boosted their price objective on Ameriprise Financial from $240.00 to $250.00 and gave the stock an “underweight” rating in a research report on Friday, October 7th. Keefe, Bruyette & Woods cut Ameriprise Financial from an “outperform” rating to a “market perform” rating and set a $325.00 price objective on the stock. in a research report on Sunday, December 18th. Finally, StockNews.com cut Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, December 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $332.70.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 13,050 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total value of $4,345,911.00. Following the transaction, the chief executive officer now directly owns 160,597 shares in the company, valued at approximately $53,482,012.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,983 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total value of $3,928,147.23. Following the transaction, the chief financial officer now directly owns 10,751 shares in the company, valued at approximately $3,524,285.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James M. Cracchiolo sold 13,050 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total value of $4,345,911.00. Following the completion of the transaction, the chief executive officer now owns 160,597 shares of the company’s stock, valued at $53,482,012.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,737 shares of company stock worth $9,796,822. 1.00% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $331.17 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.79 and a current ratio of 0.79. Ameriprise Financial, Inc. has a 52-week low of $219.99 and a 52-week high of $339.41. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.64 and a beta of 1.46. The business’s fifty day moving average is $320.12 and its 200 day moving average is $284.99.

Ameriprise Financial (NYSE:AMPGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.61. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the company posted $5.91 EPS. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 24.56 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.51%. Ameriprise Financial’s payout ratio is 20.85%.

Ameriprise Financial Profile

(Get Rating)

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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