Cambient Family Office LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) during the fourth quarter, Holdings Channel reports. The firm purchased 2,551 shares of the financial services provider’s stock, valued at approximately $1,251,000.
Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Bank Corp lifted its position in Ameriprise Financial by 78.6% in 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. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter worth approximately $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $32,000. Finally, WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Price Performance
Shares of Ameriprise Financial stock opened at $467.97 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The business’s 50 day simple moving average is $459.83 and its two-hundred day simple moving average is $473.31. The stock has a market capitalization of $42.07 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16.
Ameriprise Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on AMP. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Finally, BMO Capital Markets upped their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $543.22.
Check Out Our Latest Analysis on Ameriprise Financial
Insiders Place Their Bets
In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction 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 sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.
Ameriprise Financial Company 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.
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