Nichols & Pratt Advisers LLP MA Invests $213,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Nichols & Pratt Advisers LLP MA acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 560 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $34,000. Carmel Capital Partners LLC bought a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $39,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. 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. Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $450.88.

Ameriprise Financial Stock Performance

AMP traded up $3.32 on Friday, hitting $433.35. The company’s stock had a trading volume of 81,077 shares, compared to its average volume of 487,309. The company’s 50 day simple moving average is $421.16 and its 200-day simple moving average is $386.42. The firm has a market cap of $43.42 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 12 month low of $286.58 and a 12 month 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 1.13.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 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 the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.25 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The business 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 positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.37%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 4,298 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $397.22, for a total value of $1,707,251.56. Following the completion of the sale, the chief executive officer now directly owns 181,012 shares of the company’s stock, valued at $71,901,586.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph Edward Sweeney sold 7,200 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $401.82, for a total value of $2,893,104.00. Following the completion of the transaction, the insider now directly owns 7,000 shares of the company’s stock, valued at $2,812,740. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James M. Cracchiolo sold 4,298 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $397.22, for a total transaction of $1,707,251.56. Following the completion of the transaction, the chief executive officer now directly owns 181,012 shares of the company’s stock, valued at $71,901,586.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,980 shares of company stock worth $23,053,480. Corporate insiders own 0.96% of the company’s stock.

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.