EPG Wealth Management LLC Sells 88 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

EPG Wealth Management LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,399 shares of the financial services provider’s stock after selling 88 shares during the period. EPG Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after purchasing an additional 516,437 shares during the period. Geode Capital Management LLC raised its holdings in Ameriprise Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock valued at $1,407,607,000 after acquiring an additional 38,141 shares during the period. Norges Bank purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $689,272,000. Northern Trust Corp lifted its holdings in Ameriprise Financial by 19.8% during the 4th quarter. Northern Trust Corp now owns 1,268,419 shares of the financial services provider’s stock worth $675,344,000 after purchasing an additional 209,549 shares in the last quarter. Finally, Amundi grew its holdings in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after buying an additional 208,195 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $475.58 on Wednesday. The company has a market capitalization of $45.57 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.15 and a beta of 1.28. The business has a 50 day moving average of $478.81 and a 200 day moving average of $520.55. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

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

Ameriprise Financial declared that its Board of Directors has approved a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is 21.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMP shares. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley raised 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. Finally, Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $515.88.

Ameriprise Financial Company Profile

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.