Diversify Wealth Management LLC Purchases Shares of 2,189 Ameriprise Financial, Inc. $AMP

Diversify Wealth Management LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,189 shares of the financial services provider’s stock, valued at approximately $1,041,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. Citizens Financial Group Inc. RI raised its holdings in shares of Ameriprise Financial by 22.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,430 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 816 shares during the period. Midwest Trust Co lifted its stake in shares of Ameriprise Financial by 6.0% in the 1st quarter. Midwest Trust Co now owns 124,637 shares of the financial services provider’s stock valued at $55,389,000 after purchasing an additional 7,037 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Ameriprise Financial by 519.9% during the 1st quarter. Fifth Third Bancorp now owns 34,077 shares of the financial services provider’s stock worth $15,143,000 after purchasing an additional 28,580 shares during the period. American Trust purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth about $303,000. Finally, Candriam S.C.A. increased its position in Ameriprise Financial by 2.9% during the 1st quarter. Candriam S.C.A. now owns 60,535 shares of the financial services provider’s stock worth $26,902,000 after purchasing an additional 1,690 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. Piper Sandler raised their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday. BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Jefferies Financial Group raised their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $553.67.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $528.07 on Thursday. The firm has a market capitalization of $47.47 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The stock’s 50 day moving average price is $467.73 and its 200 day moving average price is $473.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $9.50 earnings per share. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 43.46 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors 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 yield of 1.3%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

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.