SlateStone Wealth LLC Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

SlateStone Wealth LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 538 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. CWM LLC increased its holdings in Ameriprise Financial by 2.9% during the 3rd quarter. CWM LLC now owns 2,433 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 69 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $233,000. Summit Global Investments bought a new position in shares of Ameriprise Financial in the 3rd quarter worth $393,000. Washington Trust Advisors Inc. increased its holdings in shares of Ameriprise Financial by 35.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 608 shares of the financial services provider’s stock worth $200,000 after buying an additional 160 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Ameriprise Financial by 13.4% in the 3rd quarter. Caprock Group LLC now owns 1,910 shares of the financial services provider’s stock worth $630,000 after buying an additional 226 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler increased their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. UBS Group increased their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $441.00.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Up 1.7 %

Shares of NYSE:AMP traded up $7.06 on Wednesday, hitting $414.75. The company had a trading volume of 76,015 shares, compared to its average volume of 494,872. The firm’s 50-day simple moving average is $417.72 and its two-hundred day simple moving average is $379.75. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $41.55 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The company 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 78.98%. Ameriprise Financial’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $7.25 EPS. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.43%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

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.