Marble Wealth LLC Invests $837,000 in Ameriprise Financial, Inc. $AMP

Marble Wealth LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,707 shares of the financial services provider’s stock, valued at approximately $837,000.

A number of other institutional investors have also modified their holdings of the stock. Greenwich Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $220,000. 3Chopt Investment Partners LLC increased its holdings in Ameriprise Financial by 9.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 1,135 shares of the financial services provider’s stock valued at $557,000 after buying an additional 94 shares during the period. AXQ Capital LP purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $387,000. Fielder Capital Group LLC increased its holdings in Ameriprise Financial by 2.1% during the fourth quarter. Fielder Capital Group LLC now owns 2,074 shares of the financial services provider’s stock valued at $1,017,000 after buying an additional 43 shares during the period. Finally, Vantus Wealth LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $436,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMP shares. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Price Performance

NYSE AMP opened at $442.04 on Thursday. The firm’s fifty day simple moving average is $455.69 and its two-hundred day simple moving average is $472.62. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The firm has a market capitalization of $39.74 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $9.50 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insiders Place Their Bets

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

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.