1,896 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by LM Advisors LLC

LM Advisors LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,896 shares of the financial services provider’s stock, valued at approximately $720,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $34,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $34,000. Fortitude Family Office LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $39,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $51,000. Finally, JFS Wealth Advisors LLC raised its position in shares of Ameriprise Financial by 52.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock valued at $53,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,376 shares of company stock valued at $1,476,274. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 1.5 %

Shares of NYSE:AMP traded down $6.45 during midday trading on Tuesday, reaching $422.02. 253,408 shares of the company were exchanged, compared to its average volume of 478,830. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $442.79. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $425.68 and a two-hundred day simple moving average of $403.74. The firm has a market cap of $41.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.73 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $7.25 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler increased their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Argus increased their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $450.88.

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.