Cerity Partners LLC Acquires 22,487 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 280.6% in the 4th quarter, HoldingsChannel reports. The firm owned 30,502 shares of the financial services provider’s stock after purchasing an additional 22,487 shares during the quarter. Cerity Partners LLC’s holdings in Ameriprise Financial were worth $11,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley boosted its stake in Ameriprise Financial by 9.0% in the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after purchasing an additional 195,537 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Ameriprise Financial by 29.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock valued at $555,952,000 after acquiring an additional 382,811 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Ameriprise Financial by 106,308.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after acquiring an additional 1,586,121 shares during the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $389,527,000. Finally, Invesco Ltd. boosted its position in shares of Ameriprise Financial by 33.5% during the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after acquiring an additional 270,755 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler increased their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, UBS Group raised their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $441.00.

Ameriprise Financial Stock Performance

AMP stock opened at $413.70 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $414.84 and its two-hundred day simple moving average is $375.37. Ameriprise Financial, Inc. has a twelve month low of $279.85 and a twelve month high of $440.67. The firm has a market cap of $41.45 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping analysts’ consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the firm posted $6.94 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.31%. Ameriprise Financial’s payout ratio is 22.78%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock worth $35,560,647 over the last quarter. 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.