Accredited Wealth Management LLC Has $1.60 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Accredited Wealth Management LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 54,066.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,250 shares of the financial services provider’s stock after purchasing an additional 3,244 shares during the quarter. Ameriprise Financial accounts for 1.3% of Accredited Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Accredited Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Aster Capital Management DIFC Ltd grew its stake in Ameriprise Financial by 2,600.0% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock worth $1,711,000 after buying an additional 3,354 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Ameriprise Financial by 8.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 30,020 shares of the financial services provider’s stock worth $14,747,000 after acquiring an additional 2,402 shares during the period. Generali Investments Management Co LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $89,000. TIAA Trust National Association increased its stake in Ameriprise Financial by 3.7% in the third quarter. TIAA Trust National Association now owns 3,104 shares of the financial services provider’s stock valued at $1,525,000 after acquiring an additional 111 shares during the last quarter. Finally, Banco Santander S.A. raised its position in Ameriprise Financial by 8.9% during the third quarter. Banco Santander S.A. now owns 5,223 shares of the financial services provider’s stock valued at $2,566,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial 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 approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 3.7%

Shares of AMP stock opened at $468.96 on Friday. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market cap of $42.76 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.13 and a beta of 1.26. The stock has a 50-day moving average of $498.99 and a 200-day moving average of $488.61.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors 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 yield of 1.4%. Ameriprise Financial’s payout ratio is presently 17.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMP. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $555.67.

About Ameriprise Financial

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.