Ameriprise Financial, Inc. $AMP Holdings Decreased by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,424 shares of the financial services provider’s stock after selling 1,042 shares during the period. Wealthfront Advisers LLC’s holdings in Ameriprise Financial were worth $6,410,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its holdings in shares of Ameriprise Financial by 5.9% during the first quarter. Illinois Municipal Retirement Fund now owns 17,474 shares of the financial services provider’s stock worth $7,765,000 after purchasing an additional 979 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Ameriprise Financial by 9.7% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,431 shares of the financial services provider’s stock worth $9,075,000 after buying an additional 1,800 shares during the last quarter. SouthState Bank Corp boosted its holdings in shares of Ameriprise Financial by 110.0% in the 1st quarter. SouthState Bank Corp now owns 105 shares of the financial services provider’s stock valued at $47,000 after buying an additional 55 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Ameriprise Financial by 11.8% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,087 shares of the financial services provider’s stock valued at $483,000 after buying an additional 115 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Ameriprise Financial by 16.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,440 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 340 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP opened at $527.91 on Friday. The firm has a fifty day moving average of $470.45 and a 200-day moving average of $473.87. The company has a market cap of $47.46 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $1.70 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is currently 16.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMP. Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $553.67.

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.