Cwm LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Cwm LLC boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 35.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,301 shares of the financial services provider’s stock after acquiring an additional 868 shares during the period. Cwm LLC’s holdings in Ameriprise Financial were worth $1,254,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in Ameriprise Financial during the third quarter worth $25,000. Carmel Capital Partners LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $34,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $34,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $410.01 on Friday. The business’s 50-day moving average is $418.65 and its two-hundred day moving average is $381.14. The company has a market capitalization of $41.08 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $7.25 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock valued at $31,779,805 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore ISI upped 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, April 11th. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler upped their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $449.57.

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.