1,630 Shares in Ameriprise Financial, Inc. $AMP Bought by Marshall Financial Group LLC

Marshall Financial Group LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,630 shares of the financial services provider’s stock, valued at approximately $799,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Heartwood Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $32,000. WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 43 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMP. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Morgan Stanley raised their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group upped their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $555.67.

Insider Activity

In related news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Trading Up 0.7%

NYSE AMP opened at $441.92 on Tuesday. The firm’s fifty day moving average price is $483.26 and its 200 day moving average price is $481.50. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $40.29 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the company earned $9.54 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Ameriprise Financial 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.