Ameriprise Financial, Inc. $AMP Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,424 shares of the financial services provider’s stock after selling 1,042 shares during the quarter. Wealthfront Advisers LLC’s holdings in Ameriprise Financial were worth $6,410,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the period. Holos Integrated Wealth LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $30,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $32,000. Prosperity Bancshares Inc purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $33,000. Finally, Evolution Wealth Management Inc. acquired a new position in shares of Ameriprise Financial during the first quarter worth $34,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMP shares. Morgan Stanley raised their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $553.67.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $527.91 on Friday. The stock has a market cap of $47.46 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average of $470.45 and a 200-day moving average of $473.87. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.50 earnings per share. On average, analysts expect that Ameriprise Financial, Inc. will post 43.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.3%. This is an increase 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.