Waddell & Associates LLC Takes $559,000 Position in Ameriprise Financial, Inc. $AMP

Waddell & Associates LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,141 shares of the financial services provider’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SouthState Bank Corp grew its stake in Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the third quarter worth approximately $32,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $32,000. Finally, WFA of San Diego LLC bought a new position in Ameriprise Financial in the second quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets upped their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Price Performance

NYSE AMP opened at $448.94 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s fifty day moving average price is $456.18 and its 200 day moving average price is $472.75. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.95 and a beta of 1.16.

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

Ameriprise Financial Increases Dividend

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

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction dated Friday, May 8th. The stock was 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 of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company 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.