Ameriprise Financial, Inc. $AMP Shares Acquired by Midwest Trust Co

Midwest Trust Co lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% during the first quarter, Holdings Channel reports. The institutional investor owned 124,637 shares of the financial services provider’s stock after purchasing an additional 7,037 shares during the quarter. Midwest Trust Co’s holdings in Ameriprise Financial were worth $55,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Bank Corp grew its stake in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares during the period. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth about $30,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $32,000. WFA of San Diego LLC purchased a new position in Ameriprise Financial in the second quarter valued at about $36,000. Finally, Prosperity Bancshares Inc purchased a new position in Ameriprise Financial in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. BMO Capital Markets upped their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Piper Sandler raised their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $548.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $7.53 during trading on Friday, reaching $507.69. The company had a trading volume of 456,166 shares, compared to its average volume of 755,899. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The stock has a 50-day moving average price of $464.92 and a two-hundred day moving average price of $472.97. The stock has a market capitalization of $45.64 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 earnings per share. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 43.5 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s payout ratio is presently 16.91%.

Ameriprise Financial 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.