Y Intercept Hong Kong Ltd Buys New Shares in Ameriprise Financial, Inc. $AMP

Y Intercept Hong Kong Ltd bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,626 shares of the financial services provider’s stock, valued at approximately $12,721,000.

Several other large investors also recently bought and sold shares of AMP. PFG Investments LLC boosted its stake in shares of Ameriprise Financial by 1.4% in the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares in the last quarter. EPG Wealth Management LLC increased its holdings in Ameriprise Financial by 0.8% in the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after buying an additional 21 shares during the last quarter. Essex Financial Services Inc. increased its holdings in Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after buying an additional 21 shares during the last quarter. Finally, SouthState Bank Corp lifted its holdings in 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 buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley upped their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Trading Up 1.9%

Shares of NYSE:AMP opened at $488.68 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $461.34 and its 200 day moving average price is $472.38. The company has a market cap of $43.93 billion, a PE ratio of 12.15, a P/E/G ratio of 1.00 and a beta of 1.16. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

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, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company posted $9.50 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. 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. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 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.