Ameriprise Financial, Inc. $AMP Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,962 shares of the financial services provider’s stock after purchasing an additional 418 shares during the period. Focus Partners Wealth’s holdings in Ameriprise Financial were worth $9,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. TD Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Ameriprise Financial in the first quarter valued at $29,000. Sunbeam Capital Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth about $31,000. Finally, WPG Advisers LLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at about $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $534.71.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 0.8%

Shares of Ameriprise Financial stock opened at $497.15 on Friday. The firm’s 50-day moving average price is $515.73 and its 200 day moving average price is $502.89. The firm has a market capitalization of $46.87 billion, a PE ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $8.72 EPS. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is currently 19.91%.

About Ameriprise Financial

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.