First Bank & Trust Raises Position in Ameriprise Financial, Inc. $AMP

First Bank & Trust grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 165.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the financial services provider’s stock after acquiring an additional 1,155 shares during the period. First Bank & Trust’s holdings in Ameriprise Financial were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AMP. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Heartwood Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 3rd quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at about $32,000. WFA of San Diego LLC acquired a new stake in Ameriprise Financial in the 2nd quarter valued at about $36,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after buying an additional 43 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $451.76 on Thursday. The stock’s 50-day simple moving average is $481.20 and its 200-day simple moving average is $481.00. The firm has a market capitalization of $41.19 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $9.54 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.