HighPoint Advisor Group LLC Acquires New Stake in Ameriprise Financial, Inc. (NYSE:AMP)

HighPoint Advisor Group LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMPFree Report) in the fourth quarter, Holdings Channel reports. The firm acquired 2,710 shares of the financial services provider’s stock, valued at approximately $1,029,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. Wetzel Investment Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. Fortitude Family Office LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth about $39,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth about $51,000. Finally, JFS Wealth Advisors LLC grew its holdings in Ameriprise Financial by 52.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 48 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.0 %

NYSE:AMP traded down $0.21 on Tuesday, hitting $432.34. The stock had a trading volume of 12,936 shares, compared to its average volume of 471,213. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $42.94 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $442.79. The firm’s fifty day simple moving average is $425.20 and its two-hundred day simple moving average is $405.96.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $7.25 EPS. Analysts predict that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.37%. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,376 shares of company stock worth $1,476,274. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Argus increased their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $450.88.

Check Out Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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