Elyxium Wealth LLC Raises Position in Ameriprise Financial, Inc. $AMP

Elyxium Wealth LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 178.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,096 shares of the financial services provider’s stock after purchasing an additional 2,623 shares during the period. Elyxium Wealth LLC’s holdings in Ameriprise Financial were worth $1,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC boosted its stake in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC increased its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial during the second quarter valued at $313,000. Finally, Gabelli Funds LLC raised its stake in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after acquiring an additional 2,922 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the sale, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,079,060.55. The trade was a 66.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $570.06 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $51.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.77 and a beta of 1.14. The company’s 50-day simple moving average is $507.03 and its two-hundred day simple moving average is $480.30. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.11 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. Zacks Research upgraded shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. BMO Capital Markets raised 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. Piper Sandler boosted their target price on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

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.