Cyndeo Wealth Partners LLC Acquires 191 Shares of Ameriprise Financial, Inc. $AMP

Cyndeo Wealth Partners LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,962 shares of the financial services provider’s stock after acquiring an additional 191 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $4,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Vermont raised its stake in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 19 shares during the last quarter. Plancorp LLC raised its stake in shares of Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the last quarter. Old Port Advisors raised its stake in shares of Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.2%

AMP stock opened at $491.13 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The business’s 50-day moving average is $500.83 and its two-hundred day moving average is $501.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $46.30 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.10 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company earned $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 19.91%.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $539.50.

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.