Ameriprise Financial, Inc. $AMP Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 36.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,942 shares of the financial services provider’s stock after buying an additional 3,987 shares during the period. NorthRock Partners LLC’s holdings in Ameriprise Financial were worth $7,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC raised its position in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 21 shares during the period. Rexford Capital Inc. lifted its holdings in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 21 shares in the last quarter. Dakota Community Bank & Trust NA grew its position in shares of Ameriprise Financial by 2.4% in the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 22 shares during the period. WealthTrust Asset Management LLC grew its position in shares of Ameriprise Financial by 1.5% in the second quarter. WealthTrust Asset Management LLC now owns 1,565 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 23 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $442.03 on Friday. The company has a market cap of $40.30 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.03 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The company’s 50-day moving average price is $491.57 and its 200-day moving average price is $485.17. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86.

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

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Jefferies Financial Group increased their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $555.67.

Insider Activity

In related news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was 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 owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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.