Elyxium Wealth LLC Boosts Stake in Ameriprise Financial, Inc. $AMP

Elyxium Wealth LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 178.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,096 shares of the financial services provider’s stock after acquiring an additional 2,623 shares during the quarter. Elyxium Wealth LLC’s holdings in Ameriprise Financial were worth $1,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC raised its position in shares of Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC boosted its position in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial in the second quarter worth about $313,000. Finally, Gabelli Funds LLC raised its holdings in Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Trading Down 0.1%

Ameriprise Financial stock opened at $570.06 on Friday. The stock has a 50-day moving average of $507.03 and a two-hundred day moving average of $480.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The stock has a market cap of $51.25 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm earned $9.11 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 46.12 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be paid a $1.70 dividend. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s dividend payout ratio (DPR) is 16.40%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. The trade was a 54.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn M. Brockman sold 472 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the transaction, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,988 shares of company stock worth $16,316,497 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Company 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.