Integrated Wealth Concepts LLC Acquires 251 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Integrated Wealth Concepts LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,791 shares of the financial services provider’s stock after buying an additional 251 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ameriprise Financial were worth $1,486,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMP. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $36,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 in the last 90 days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $468.16 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a fifty day moving average price of $485.25 and a 200-day moving average price of $522.27. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $44.86 billion, a PE ratio of 14.16, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $8.39 EPS. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has approved a share buyback plan on Thursday, April 24th that allows the company to buyback $4.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a $1.60 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 dividend on an annualized basis and a yield of 1.37%. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMP. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a report on Monday, April 7th. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $517.44.

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.