Greatmark Investment Partners Inc. Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Greatmark Investment Partners Inc. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,598 shares of the financial services provider’s stock after buying an additional 223 shares during the quarter. Ameriprise Financial makes up 2.2% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 17th largest holding. Greatmark Investment Partners Inc.’s holdings in Ameriprise Financial were worth $13,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. OFI Invest Asset Management purchased a new stake in Ameriprise Financial during the 3rd quarter worth about $25,000. Carmel Capital Partners LLC purchased a new stake in Ameriprise Financial during the 3rd quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. Wetzel Investment Advisors Inc. purchased a new stake in Ameriprise Financial during the 4th quarter worth about $34,000. Finally, Fortitude Family Office LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders sold a total of 74,326 shares of company stock valued at $29,775,593 in the last three months. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 1.3 %

Shares of AMP traded up $5.24 during mid-day trading on Monday, reaching $415.25. The company’s stock had a trading volume of 203,961 shares, compared to its average volume of 500,142. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The stock has a market cap of $41.60 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50 day moving average is $418.65 and its 200 day moving average is $381.50.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.25 EPS. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.65 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. Ameriprise Financial’s dividend payout ratio is 18.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial 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.