Geneos Wealth Management Inc. Raises Position in Ameriprise Financial, Inc. $AMP

Geneos Wealth Management Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 424 shares of the financial services provider’s stock after acquiring an additional 76 shares during the period. Geneos Wealth Management Inc.’s holdings in Ameriprise Financial were worth $205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $26,000. TD Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 566.7% in 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 in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $29,000. Sunbeam Capital Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $33,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $485.90 on Wednesday. The firm has a 50 day simple moving average of $513.74 and a 200-day simple moving average of $502.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $45.81 billion, a PE ratio of 15.12, a P/E/G ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

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

Ameriprise Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. Finally, Wall Street Zen raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $534.71.

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.